Department of Industrial Policy & Promotion had issued a Consolidated FDI Policy Circular (Circular 1 of 2010) on 31.03.2010,making all information on Foreign Direct Investment (FDI) Policy available at one place and subsuming all earlier Press Notes/ /Press Releases/ Clarifications regarding Government policy on FDI, issued by the Department from time to time. Subsequently Circulars were issued on 30.09.2010, 31.03.2011and 30.09.2011.
DIT Vs. DSD Noell GmbH (Delhi High Court)- Can the Assessing Officer bring to tax the actual profits as per books of accounts, if the same is higher than 10% of receipts which are deemed to be the profits under section 44BBB in case of a foreign company engaged in turnkey projects?
