Income Tax - In India, the underlying idea behind the scheme of APA is to make tax administration better and efficient by encouraging taxpayers to provide all the data essential for a comprehensive transfer pricing analysis and to motivate them towards engaging a mutual agreement....
Read MoreIncome Tax - Implementation plan for the two-pillar solution to address tax challenges of a digital economy Background In my earlier article dated July 19, 2021, I have given a brief overview of the Statement on a two‑pillar solution to address the tax challenges arising from the digitalisation of the economy (the Statement) that was agreed by 130 [...
Read MoreIncome Tax - Two-pillar solution for Tax challenges arising from Digitalisation of Economy and consensus of majority of OECD/ G20 member countries (including India) Executive summary Certainty is one of the basic cannons of taxation. With the globalisation of economy when Multi National Enterprises (MNEs) starting setting up businesses across the gl...
Read MoreIncome Tax - A transaction in which the buyers and sellers of a product act independently and have no relationship to each other. The concept of an arm's length transaction is to ensure that both parties in the deal are acting in their own self interest and are not subject to any pressure or duress from the other party...
Read MoreIncome Tax - Under Transfer Pricing regulation, Safe Harbor rules means binding rules laid down under law which mandates income tax authorities to accept the transfer price declared by the assesse, if opted for. Further section 92CB provides methods for determination of arm’s length price....
Read MoreIncome Tax - Notification of Transfer Pricing Rules to incorporate range concept and use of multi-year data to reduce litigation on transfer pricing issues....
Read MoreLambda Therapeutic Research Ltd. Vs D.C.I.T (ITAT Ahmedabad) - Lambda Therapeutic Research Ltd. Vs DCIT (ITAT Ahmedabad) We find that the assessee has not demonstrated any benefit derived from its associated enterprises namely Lambda USA whereas it has advanced interest free loan of EURO 49,999/-. Thus, the question arises whether there is a need to make any ad...
Read MoreSami – Sabinsa Group Ltd. Vs DCIT (ITAT Bangalore) - ALP of corporate guarantee has to be determined as it falls within scope and ambit of an international transaction after retrospective amendment to section 92B and 0.5% corporate guarantee is held to be appropriate....
Read MorePraxair India Private Limited Vs DCIT (ITAT Bangalore) - The TPO and DRP erred in treating CCDs as ECBs and benchmarked the interest rate against LIBOR rate. The CCDs is a hybrid instrument and cannot be per se treated as ECB / loan....
Read MoreMobileum Inc Vs DCIT (ITAT Mumbai) - Mobileum Inc Vs DCIT (ITAT Mumbai) since transactions between the assessee and its AE have been found at arm’s length prices no further income chargeable to tax in India can be said to be attributable for the PE of the assessee. FULL TEXT OF THE ORDER OF ITAT MUMBAI This appeal by the Assessee is ...
Read MoreDCIT Vs Teradata India Pvt. Ltd. (ITAT Delhi) - The issue under consideration is whether the TPO is correct in considering subvention fee in the BPO segment instead of distribution segment?...
Read MoreNotification No. 57/2016-Income Tax - (14/07/2016) - Central Government hereby notifies that where the variation between the arm’s length price determined under section 92C and the price at which the international transaction or specified domestic transaction has actually been undertaken does not exceed one percent of the latter in respect of wholes...
Read MoreLambda Therapeutic Research Ltd. Vs D.C.I.T (ITAT Ahmedabad) -
Sami – Sabinsa Group Ltd. Vs DCIT (ITAT Bangalore) -
Praxair India Private Limited Vs DCIT (ITAT Bangalore) -
Mobileum Inc Vs DCIT (ITAT Mumbai) -
DCIT Vs Teradata India Pvt. Ltd. (ITAT Delhi) -
Evalueserve.com Pvt. Ltd. Vs DCIT (ITAT Delhi) -