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NEWS FLASH
 
TP - Comparable cannot be included merely because objection on export turnover fails, and TPO must independently examine functional similarity: HC (See Breaking News) I-T - Penalty proceedings distinct from assessment proceedings & cannot be sustained based only on additions or disallowances; mens rea is a necessary ingredient for imposing penalty, ergo penalty not tenable where Assessee was acting in bona fide: ITAT (See Breaking News) INTL - Explanation 2 to section 37 bars deduction of CSR expenditure as a business expense, it does not prohibit deduction under Chapter VI-A if statutory conditions are met : ITAT (See Breaking News) I-T - Final assessment order is not tenable if passed beyond permissible period of limitation prescribed u/s 144C(13) r/w/s 153: ITAT (See Breaking News) TP - Rule 10D permits reliance on price publications and market quotations: ITAT (See Breaking News) I-T - Provisions of Sections 144C & 153 are interlinked, by virtue of which final assessment order must be computed by reading both provisions together: ITAT (See Breaking News) DTAA - Use of sophisticated infrastructure by service provider for rendering services cannot per se be equated with granting customer the right to use industrial, commercial or scientific equipment: ITAT (See Breaking News) INTL - Provisions of section 144C & section 153 are mutually inclusive & not mutually exclusive; limitation for passing final assessment order is to be computed by reading both provisions together: ITAT (See Breaking News) INTL - ITO in charge of domestic ward within India lacks territorial jurisdiction to assess a non-resident; jurisdiction lies with ITO in charge of International Taxation: ITAT (See Breaking News) I-T - Reimbursement received on account of secondment is taxable as FTS/FIS u/s 9(1)(vii) of Income Tax Act and Article 12 of the India -USA DTAA: HC (See Breaking News) I-T - Order of assessment/ reassessment u/s 153(2) is required to be made within 12 months from end of financial year in which notice u/s 148 was served: HC (See Breaking News)
 
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TII BREAKING NEWS
 
TP - Comparable cannot be included merely because objection on export turnover fails, and TPO must independently examine functional similarity: HC
I-T - Penalty proceedings distinct from assessment proceedings & cannot be sustained based only on additions or disallowances; mens rea is a necessary ingredient for
INTL - Explanation 2 to section 37 bars deduction of CSR expenditure as a business expense, it does not prohibit deduction under Chapter VI-A if
I-T - Final assessment order is not tenable if passed beyond permissible period of limitation prescribed u/s 144C(13) r/w/s 153: ITAT
< More News >
 
TII SPECIAL Jun 24, 2026
 
How to woo FDI into India?
By Pratap Singh

IN an emerging and growing economy like India, we need to maintain a healthy investment rate to increase gross capital information. Obviously such investment can not be raised domestically as the resources and savings are limited. Therefore, to do it, we need to attract, long term FDI in plant,

 
TII EDIT Jun 15, 2026
 
The 2026 Income Tax Ordinance and non-residents
By D P Sengupta

THE Income Tax (Amendment) Ordinance 2026 received Presidential assent on the 5th of June, 2026. The Budget session was over on 18th April, 2026 and the Monsoon session is likely to commence in end July/early August. Crucial elections took place in March/April when important decisions are postponed. But, at some

 
BULLETIN BOARD
 
New Delhi, Mar 05, 2026
Income Tax Amendment Rules 2026 notified; definition for central bank digital currencies i...
New Delhi, Jan 06, 2026
CBDT notifies certain pension funds u/s 10(23FE...
New Delhi, Nov 10, 2025
CBDT notifies protocol amending DTAA between India and Belgium...
New Delhi, Nov 06, 2025
I-T - ALP u/s 92C - CBDT notifies connotation of ‘wholesale trading’ in international ...
< More News >
 
TII BRIEF
 
New Delhi, Jun 26, 2026
R&D tax incentives expand across OECD countries ...
Paris, Jun 01, 2026
Industrial dole-outs reach a new peak since global financial crisis: OECD ...
Paris, May 26, 2026
G20 goods trade rises sharply in Q1 ...
New Delhi, May 14, 2026
Real household income grows in Q4 in OECD area ...
Paris, Mar 17, 2026
G20 economic growth tapers down to 0.7% in Q4 ...
 
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