TMI Blog2015 (10) TMI 406X X X X Extracts X X X X X X X X Extracts X X X X ..... ed of. - Civil Appeal No. 4559 & 4560 of 2013 - - - Dated:- 30-9-2015 - Mr. A.k. Sikri and Mr. Rohinton Fali Nariman, JJ. For the Petitioner : Mr. Parse Padhiwala, Sr. Adv., Mr. Jay Savla, Adv., Ms. Renuka Sahu, Adv., Mr. Abhinav Sharma, Adv., Mr. Mukul Rohatgi, AG., Mr. Subas Acharya, Adv., Mr. Arijit Prasad, Adv., Mr. Pritish Kapoor, Adv., Ms. Diksha Rai, Adv., Mrs. Anil Katiyar, Adv., Mr. Harish N. Salve, Sr. Adv., Mr. Ajay Bhargava, Adv., Ms. Vanita Bhargava, Adv., Mr. Aseem Chaturvedi, Adv., Ms. Aditi Mukundan, Adv., Mr. Karan Lahiri, Adv., M/s. Khaitan Co. For the Respondent : Mr. Mukesh Butani, Adv., Mr. Gaurav Gupta, Adv., Mr. S. S. Tomar, Adv., M/s. Khaitan Co. ORDER Interlocutory application for inter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... visions of section 115JB to FIIs/FPIs having no permanent establishment (PE)/ place of business in India. The Government has accepted the said recommendation and it has been decided to carry out appropriate amendment in the Act so as to prescribe that MAT provisions will not be applicable to FIIs/FPIs not having a place of business/ permanent establishment in India, for the period prior to 01.04.2015. The field authorities are accordingly advised to take into consideration the above position and keep in abeyance, for the time being, the pending assessment proceedings in cases of FIIs/FPIs involving the above issue. They are further advised not to pursue the recovery of outstanding demands, if any, in such cases. This is followed by Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ied out. Learned Attorney General has made a statement at the Bar that the Government would abide by the decision which has been taken in the aforesaid Circular dated 02.09.2015 and Press Release dated 24.09.2015. Learned counsel for the parties agree that in view of this submission, the present appeals can be disposed of in terms thereof. Ordered accordingly. We may place on record that one more issue has been decided in the impugned opinion of the AAR which relates to the applicability of the transfer pricing provisions, i.e., Sections 90-95 to the foreign companies. However, Mr. Salve submits that since there is another Press Release on 28.01.2015, the appellants are not pressing that issue. - - TaxTMI - TMITax - Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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