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Alarm bells ring over British Columbia treaty override
Last fortnight, Vancouver, British Columbia hosted the annual International Fiscal Association (IFA) Congress with over 1000 international tax experts representing large MNCs, international tax experts, academicians and tax administrators of several jurisdictions. Expectedly, the buzz centered on India’s Direct taxes code. Most participants expressed anxiety on DTC provisions impacting cross border investments, particularly on General anti-avoidance rules (GAAR) and were perplexed with a position that the Indian domestic law can override a double tax treaty (DTT).

DLF Q3 net debt rises to Rs 12,830 cr on biz consolidation
The country"s largest real estate company DLF today said its net debt has increased by nearly 6 per cent at Rs 12,830 crore mainly by the end of the third quarter due to consolidation of its business.

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IAF begins flight trials for foreign firms
The Indian Air Force today began the flight evaluation and performance trials for the six foreign defence firms which are in race to bag an estimated $10 billion order for 126 Medium Multi Range Combat Aircraft.
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Koda Case: ED conducts searches at Emaar MGF's offices

The Enforcement Directorate today conducted searches on the premises of realtor Emaar MGF in connection with the multi-crore illegal Hawala and investment case involving former Jharkhand Chief Minister Madhu Koda. - ED to soon move court for Koda"s custody - ED gets arrest warrant against Koda"s close aide - Koda fails to appear before ED in Ranchi - Koda puts net assets at just Rs 1 cr at LS polls - ED focus on Mumbai firm to track Koda"s money - Koda"s interrogation likely to begin today The search followed the ED finding certain documents that showed Koda"s associates on the board of certain Emaar group companies, ED sources said. Emaar MGF is a joint venture between Dubai-based Emaar Properties and India"s MGF Development. Sources said one of Koda"s associates, Vikash Sinha, who is in judicial custody, has now disclosed that he and some others had invested on behalf of Koda in the same companies. When contacted, a Emaar MGF spokesperson did not offer any comments immediately.


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