ITAT Mumbai held that assessee selecting Associated Enterprise (AE) as “tested party” justifiable. Accordingly, transfer pricing study conducted by the assessee is duly acceptable.
ITAT Mumbai held that there is a fundamental gap between guarantee and Letter of Comfort. Guarantee is a legally enforceable; however, Letter of Comfort is not. Thus, issuing Letter of Comfort to the Bankers of AE, the assessee did not incurred any cost and hence it does not constitute international transaction under section 92B of the Act
Discover the process and types of trademark assignment. Learn about procedures, required documents, and benefits for a smooth transfer of trademarks.
Learn essential steps and tax provisions for Non-Resident Indians (NRIs) selling inherited property. Understand laws, remittance limits, and taxation implications effortlessly.
Allahabad High Court held that offence relating to forged GST registration for fraudulent availment of input tax credit involving more than Rs. 2600 crore is serious and hence anticipatory bail of the accused rejected.
ITAT Hyderabad held that revision under section 263 of the Income Tax Act justified as consistency not followed in treatment of foreign exchange gain/loss amounts to error in sofar as it is prejudicial to the interest of revenue.
ITAT Mumbai held that denial of exemption under section 54 of the Income Tax Act unjustified as appellant cannot be penalized for the mistake committed by the developer/seller in allocating the flat. Thus, exemption u/s. 54 granted as all the conditions satisfied.
Learn the differences between the old and new tax regimes in India. Discover which scheme suits your financial needs best with this comprehensive guide.
Bombay High Court held that as per section 14A of the Income Tax Act any expenditure incurred in relation to any income which is not included in total income would not be allowed as expenditure. Thus, interest on borrowed funds used to earn dividend which is exempt from tax cannot be allowed as expenditure.
Navigate corporate tax registration in Dubai with ease! Learn essential steps, required documents, and deadlines to ensure compliance effortlessly.
