3/2/2022
START DATE
END DATE
18-Mar-22
Reliance Globalcom Limited v The Minister of Finance
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Court of Appeal (Civil Division) Bermuda
Tax Law Commercial Law
Sir Christopher Clarke Justice of Appeal Geoffrey Bell Justice of Appeal Anthony Smellie
David Kessaram
Jeffery Elkinson
FACTS OF THE CASE:
The case centers on a production order obtained by the Minister of Finance against Reliance Globalcom Limited for the disclosure of financial information based on a request from the Indian Tax Authorities under the Tax Information Exchange Agreement between Bermuda and India. The request aimed to investigate tax matters concerning transactions between Reliance Globalcom Limited and an Indian company for the FY 2015-16 specifically the location of revenue related to fiber optic cable services and the taxpayer's claim of no taxable business connection with India
SUMMARY:
Whether the Supreme Court properly undertook its responsibilities in ensuring the conditions of the applicable agreement relating to a tax information request were fulfilled; Whether information sought was foreseeably relevant to ongoing tax investigations despite the lapse of the statute of limitations in India
OUTCOMES:
The appeal was allowed on grounds including insufficient demonstration of the relevance of requested information to the tax purposes stated and concerns over the request being a potential 'fishing expedition' without a clear nexus to an open inquiry or investigation
RULED IN FAVOUR OF:
Appellant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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Reliance Globalcom Limited v The Minister of Finance
The case centers on a production order obtained by the Minister of Finance against Reliance Globalcom Limited for the disclosure of financial information based on a request from the Indian Tax Authorities under the Tax Information Exchange Agreement between Bermuda and India. The request aimed to investigate tax matters concerning transactions between Reliance Globalcom Limited and an Indian company for the FY 2015-16 specifically the location of revenue related to fiber optic cable services and the taxpayer's claim of no taxable business connection with India