Wishing all of you a very Happy and Prosperous and Knowledge gaining New year, 2024, from SBS. Only the calendar has changed, but the zeal, effort and passion at SBS, to share knowledge continues to withstand all odds.
In this edition, we have come up with an article on recent judgement of the Hon’ble Apex Court in Shakti Yezdani & Another vs. Jayanand Jayant Salgaonkar & others, deciding whether a Nominee of Securities under Section 109A, is its Real Owner, or is he only a custodian, and whether the Section 109A is a third mode of succession that the scheme of the Companies Act, 1956, (pari-materia provisions in Companies Act, 2013), and Depositories Act, 1996 aims or intends to provide.
The next article is on the concept of permanent establishment. Article 5 of the DTAA deals with the concept of permanent establishment. In this Article, how a person can avoid the permanent establishment in the country of source and OECD/G20 measures to curb such practices have been discussed.
We have also collated certain important judgments under direct tax and provided our comments wherever necessary.
