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Flash

CBDT issues Guidelines on scope of Sections 194-O, 194Q & 206C

India & US agree on transitional approach on 2% EL; Terms to be finalised in Feb’22

Path-breaking agreement reached on digital economy taxation by 136 countries, with two-pillar solution as base

CBDT notifies Rules to effectuate Taxation Laws (Amendment) Act, 2021

SC: Considering “near normal” situation, reverts to earlier order on limitation w.e.f. October 3

CBDT extends applicability of Safe Harbour rules to AY 2021-22

CBDT extends due-dates for ITR, Audit Report

ITAT: Holds Black Money proceedings against Yashovardhan Birla jurisdictionally defective

CBDT prescribes procedure for assessment/penalty cases transferred out of faceless regime

Vice-President G.S. Pannu appointed Officiating President, ITAT

First on Taxsutra

ITAT Special Bench: Hears both parties on interpretation of "paid" under India-Cyprus…

First on Taxsutra

HC: Directs CBDT to appoint officer for giving effect to post-APA returns; Faceless-assessments…

First on Taxsutra

SC: Directs categorization of issues in Softbrands case, lists hearing for August 2021

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Adjustments
- Accounting Policies
- Capacity
- Credit period
- Depreciation
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- Risk
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ALP computation
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- Benefit of +/- 5%
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- Non-speaking DRP/ CIT(A) orders
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Applicability of TP-provisions to income covered under the Tonnage Tax Scheme
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Australia TP Guidelines
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COVID-19
Definitions
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Delayed pronouncement of order due to Covid-19 lockdown
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International transactions
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- Provision of Investment advisory services
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- Provision of software development service R&D filter
- Purchase of fixed asset
- Reimbursements
- Royalty
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- Transfer of business to AE
- Treatment of CCD/FCCD/OFCD
- Treatment of share application money as loan
Limitation period
Methods
- Comparable Uncontrolled Price Method (CUP)
- Cost Plus Method
- Cost Plus Method more appropriate than TNMM
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Powers / Jurisdiction of Appellate Authority
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shareholder services
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TP adjustment & MAT provisions
Transfer pricing
Transfer Pricing applicability
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Transfer Pricing assessments
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  - Adjustments by TPO on issues not referred by AO
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  - Reference to BEPS Action Plans
- Remand for fresh consideration
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- Retraction of comparables
- Revision u/s 263 w.r.t transfer pricing
- Right of assessee to seek correction of own mistakes
- Right to contest comparable when not contested before earlier forum
- Rule of Consistency
- Secondary adjustment
- Stay of demand
- Threshold limit of Rs 5 crores
- Time limit for completing the assessment
- TP and Search Proceedings

Number

Applevel

Year

Rulings

High Court Latest

HC: Following Allahabad HC, quashes reassessment notices; Allows Revenue to initiate reassessment under new…

Dec 03, 2021

High Court Most Viewed

HC: Sets-aside assessment order over non-intimation of DRP-reference; Directs completion of assessment basis…

Nov 25, 2021

Income tax Appellate Tribunal

ITAT: Assessment order passed without adhering to DRP directions non-est, not revisable u/s 263

Nov 19, 2021

High Court

HC: Derides Revenue for challenging ITAT order in ritualistic manner, dismisses Revenue’s appeal as devoid of…

Nov 18, 2021

Trending Topics :

Software Royalty Taxation
ESOP
Union Budget 2021
Angel Tax
Expat Reimbursement

News

Around the World Latest

EU adopts public Country-By-Country Reporting; Effective from Dec 21, 2021

Dec 03, 2021

News

Taxsutra TP Compilation : Top 10 rulings reported in November 2021

Dec 01, 2021

CBDT Corner Most Viewed

CBDT issues Guidelines on scope of Sections 194-O, 194Q & 206C

Nov 25, 2021

Around the World International

OECD releases MAP Statistics for 2020; India resolves 48% of TP MAP cases via domestic remedy

Nov 24, 2021

Experts' Corner

Expert Columns

Vijay Iyer

National Leader , Transfer Pricing , EY India

Transfer Pricing of Intangibles – A Perspective (Part II)

Nov 23, 2021

Eye Share

Chetan Shah

Director, Ernst & Young LLP

Proportionate Adjustment - Concept and Computation Mechanism

Nov 03, 2021

Tax Ring

Mumbai ITAT's judgment in Gemological Institute of America Inc case - ...
May 12, 2021
CBDT's Revision of Master File and CbCR Regime - Does it Pave Way for ...
Apr 07, 2021

Updates

Income tax Appellate Tribunal Latest

ITAT: Grants working-capital adjustment, Denies risk-adjustment, Rules on comparables for SWD segment;…

Dec 03, 2021

Income tax Appellate Tribunal

ITAT: Deletes Bausch & Lomb’s bright-line based AMP adjustment, Follows precedents, absent contradictory…

Dec 03, 2021

Income tax Appellate Tribunal Most Viewed

ITAT: Upholds CIT(A)'s deletion of TP adjustments; Draft order not passed in second round of proceedings…

Nov 29, 2021

Income tax Appellate Tribunal Most Viewed

ITAT: Remits determination of DAPE existence for a Japanese Sogo-Sosha entity; AO to verify documentary-…

Nov 29, 2021

Litigation Tracker

Revenue submits, TOLA needs to be given purposive interpretation; Contends Allahabad HC ruling as per…

Oct 12, 2021

HC: Admits Revenue’s appeal; Frames 4 substantial questions of law on outstanding-AE receivables, corporate-…

Sep 24, 2021

ITAT Special Bench: Hears both parties on interpretation of "paid" under India-Cyprus DTAA, Directs…

Sep 08, 2021

SC lists Canon India SLP on Marketing-Intangibles issue for final hearing on Sept 28/29; Considers Maruti…

Aug 24, 2021

Kaleidoscope

Reflections on Indian TP controversies – "Cost Plus Method"

Nov 30, 2021

Reflections on Indian TP controversies – "Resale Price Method"

Nov 22, 2021

BEPS

US, UK, Austria, France, Italy & Spain strike transitional Compromise over Unilateral Measures with tax…
Oct 22, 2021
OECD releases fourth peer-review report of BEPS AP 13, Acknowledges India's EOI-processes consistent…
Oct 18, 2021

Taxsutra TV

Rishabh Kumar Sawansukha, Vice President – Taxation, Snapdeal

Nov 19, 2015

Krishen Mehta - Advisory Board, The Aspen Institute Business and Society Program(New york)

Nov 19, 2015

Book Reviews

Tangible Guide to Intangibles

Transfer Pricing Demystified

Taxsutra Insights

Key Developments in OECD/G20 BEPS Inclusive Framework Statement

Oct 11, 2021

Taxsutra TP Insight: OECD's three-tiered TP documentation -…

Jun 14, 2021

First on Taxsutra

ITAT Special Bench: Hears both parties on interpretation of "paid" under India-Cyprus…

First on Taxsutra

HC: Directs CBDT to appoint officer for giving effect to post-APA returns; Faceless-assessments…

First on Taxsutra

SC: Directs categorization of issues in Softbrands case, lists hearing for August 2021

Experts' Corner

Expert Columns

Vijay Iyer

National Leader , Transfer Pricing , EY India

Transfer Pricing of Intangibles – A Perspective (Part II)

Nov 23, 2021

Eye Share

Chetan Shah

Director, Ernst & Young LLP

Proportionate Adjustment - Concept and Computation Mechanism

Nov 03, 2021

Global TP Battleground

Intra-group loan or Intra-group service? - Analysis by the Finland Supreme…

Jul 20, 2021

Business Restructuring - What it takes to be at an Arm’s Length

Jun 15, 2021

Tax Ring

Mumbai ITAT's judgment in Gemological Institute of America Inc case - ...
May 12, 2021
CBDT's Revision of Master File and CbCR Regime - Does it Pave Way for ...
Apr 07, 2021

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Direct Tax
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  - Rulings
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  - Gstsutra TV
  - Podcast
- Book Reviews
Indirect Tax
LawStreetIndia
Library
Databases
- Atoll
- Taxsutra Database
Reservoir
Greentick