ITAT deletes Penalty since Assessee applied Transfer Pricing Provisions with Good faith and Due Diligence [Read Order]

In a major relief to Tianjin Tianshi India Pvt. Ltd, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be levied if the transfer...

If there are Similar Transactions of Services with both Related and Unrelated Parties and Price is Comparable, It is taken to be at Arm’s Length Price: ITAT [Read Order]

The Delhi bench of ITAT in the case of Axis Risk Consulting Services Private Limited v. DCIT, held that if there are similar transactions of services with related parties as well as unrelated parties and...

CBDT notifies Revised Form 3CE for APA seeking Taxpayer Identification Number of AE [Read Notification]

The Central Board of Direct Taxes (CBDT) recently notified the revised Form 3CE for Advance Pricing Agreements (APAs) wherein furnishing of Taxpayer Identification Number of Associate Enterprise (AE) is a mandatory requirement. APA is an...