{"id":21642,"date":"2021-09-24T11:22:15","date_gmt":"2021-09-24T05:52:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/augustus-capital-pte-ltd-v-dy-cit-2020-196-dtr-289-208-ttj-1177-delhitrib\/"},"modified":"2021-09-24T11:22:15","modified_gmt":"2021-09-24T05:52:15","slug":"augustus-capital-pte-ltd-v-dy-cit-2020-196-dtr-289-208-ttj-1177-delhitrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/augustus-capital-pte-ltd-v-dy-cit-2020-196-dtr-289-208-ttj-1177-delhitrib\/","title":{"rendered":"Augustus Capital Pte Ltd. v. Dy. CIT (2020) 196 DTR 289 \/ 208 TTJ 1177 (Delhi)(Trib.)"},"content":{"rendered":"<p>It was held that Explanation 7 to section 9(1)(i) has retrospective effect, as Explanation 6 &amp; 7 were inserted in furtherance of object of inserting explanation 5 and Explanation 5 was given the retrospective effect. As per Explanation 7 transactions that involves sale of shares of foreign company, which held investment in India would not be taxable, because it has a retrospective effect which includes the assessment year in consideration. (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Explanation 7 to section 9(1)(i) has a retrospective effect-Sale  proceeds of shares of foreign company which held investment in India is not taxable. [S. 5] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-21642","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5D4","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=21642"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21642\/revisions"}],"predecessor-version":[{"id":21643,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21642\/revisions\/21643"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=21642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=21642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=21642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}