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NEWS FLASH
 
TP - Comparable company merits being excluded from list of comparables, where it is functionally dis-similar in comparison to assessee: ITAT (See 'Breaking News') DTAA -In absence of a clause in DTAA not dealing with a particular item of income, a payment should not be regarded as residuary income but as business income which is not chargeable to tax in India, in the absence of a PE of the non-resident in India: ITAT (See 'Breaking News') Switzerland hosts Indian trade delegation; eye on enhancing ties following TEPA (See Brief) TP - Comparable company merits being excluded on account of diversified operations, lack of segmental information, and differences in turnover and services compared to the assessee: ITAT (See 'Breaking News') I-T - DRP's order upholding draft order without giving assessee an opportunity of presenting evidence, is unsustainable: ITAT (See 'Breaking News') DTAA -Revenue earned by assessee-company from supply of software & maintenance thereof, cannot be deemed to be Royalty as per I-T Act & India-UK DTAA: ITAT (See 'Breaking News') I-T- Assessee entitled to deduction on amount paid to non-resident for expenses incurred, considering that recipient declares amount so received, in its own ITR: ITAT (See 'Breaking News') TP - Department's premise of Royalty being paid by the assessee-company to its own self, where such a payment be made to a holding company, is wholly untenable: HC (See 'Breaking News') I-T- As per trite law, an assessee cannot be expected to deduct tax at source from payments that became taxable owing to retrospective amendment: HC (See 'Breaking News') DTAA - consideration received for provision of Managerial Services, cannot be deemed to be Royalty or taxed as such, where no transfer of knowledge or expertise is involved: ITAT (See 'Breaking News') TP - Where TPO's report is limited to determination of ALP only, then the AO cannot travel beyond determination of ALP: ITAT (See 'Breaking News') I-T- Once profit from business increases, it will correspondingly increase amount of deduction claimed u/s 10A; even if business profit is increased there will be no change in assessee's taxable income: ITAT (See 'Breaking News')
 
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TII BREAKING NEWS
 
TP - Comparable company merits being excluded from list of comparables, where it is functionally dis-similar in comparison to assessee: ITAT
DTAA -In absence of a clause in DTAA not dealing with a particular item of income, a payment should not be regarded as residuary income
TP - Comparable company merits being excluded on account of diversified operations, lack of segmental information, and differences in turnover and services compared to the
I-T - DRP's order upholding draft order without giving assessee an opportunity of presenting evidence, is unsustainable: ITAT
< More News >
 
TII SPECIAL Jun 24, 2024
 
A peep into Global Tax Reforms Architecture
By Pratap Singh, Principal CIT

 

THIS article aims to present an overview of the global tax reforms underway, exploring its challenges, key initiatives, and potential outcomes. It explores the importance of international cooperation under UN/G20/OECD, in addressing tax avoidance and ensuring that businesses contribute their fair share to the societies in which they operate.

 
TII EDIT Jun 18, 2024
 
The first GAAR case in India - An analysis
By D P Sengupta

ON the 7th of June, 2024, almost 12 years after the first enactment of the General Anti- Avoidance Rule (GAAR) in India's income tax law, the first case relating to the invocation of GAAR has been decided by the Telangana High Court - (2024-TII-41-HC-TELANGANA-INTL) - (2024-TIOL-1021-HC-TELANGANA-IT).

 
BULLETIN BOARD
 
New Delhi, May 27, 2024
Instructions on Money Changing Activities...
New Delhi, May 27, 2024
CBDT notifies RBI u/s 206AB(3)...
New Delhi, May 24, 2024
Cost Inflation Index for fiscal 2024-25: CBDT notifies 363 ...
New Delhi, Mar 19, 2024
India-Spain DTAA: CBDT amends Art 13...
< More News >
 
TII BRIEF
 
New Delhi, Jul 17, 2024
Switzerland hosts Indian trade delegation; eye on enhancing ties following TEPA ...
Paris, Jul 04, 2024
OECD ties up with GPAI to develop trustworthy AI ...
Paris, Jun 25, 2024
Tax mop-up in Asia & Pacific back to pre-pandemic levels: OECD ...
Pune, Jun 21, 2024
Declining fertility rates put prosperity of future generations at risk: OECD...
Paris, Jun 13, 2024
GDP marginally picks up in G20 economies in Q1: OECD ...
 
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