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    SBS Wiki E Journal February 2022

    SBS Wiki E Journal February 2022

    In this edition, we bring you, an article on the understanding of the depth of the most litigative entry in the indirect taxation sphere, which is agreeing to the obligation to refrain from an act or tolerate an act or to do an act. Though we understand that we have only touched the tip of iceberg, we have made an honest attempt in understanding the direction in which it would be interpreted. The article comes in two-part series, the one dealing with the position under the European VAT and the next dealing with position under Indian scenario.

    The next article is on the interpretation of ‘Most Favoured Nation’ clause in the tax treaties. The Courts have shown a direction as to how the same has to be interpreted specifically in the context of interpretation of treaties in light of Vienna Convention of Law of Treaties. However, the Board’s Circular has attempted to override the judgments and gave a new interpretation to their favour. Though the said circular is binding only on the revenue and not on the courts or assessee, it would be an unwanted fight of the taxpayer with the revenue. We have covered the exact issue with our remarks.

    The next article is on the recent judgment of Honourable Supreme Court in the issue pertaining to the succession by a female child prior to the Hindu Succession Act. The Court answered the question in the favour of female child stating that, as long as the property of the father is self-acquired, the devolution happens by way of succession and not on survivorship.

    The finale is on the recent updates in the areas of labour laws. The insights were contributed by our learned senior associate Mr SV Ramachandra Rao.

    I hope that you will have good time reading this edition and please do share your feedback. I will also urge clients to mail us topics or issues on which you want us to deliberate in our future editions, so that we can contribute to the same.

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