The Delhi High Court recently decided a case in favour of global telecommunications company Nokia. Ravishankar Raghavan, of Majmudar & Partners, explains why the judgment should reassure foreign investors that benefits provided under tax treaties will not be overridden by the Indian government’s retrospective amendments.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
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