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Foreign Exchange Fluctuation Linked to International Transactions is Operating in Nature: Delhi HC Reaffirms [Read Order]

In a recent case, the Delhi High Court reaffirmed that foreign exchange gains or losses arising from international transactions are part of normal...

Articles 245 to 279A: Understanding the Constitutional Backbone of Indian Taxation

ITAT backs CIT(A) order Deleting ₹1.2 Crore Income Tax Penalty on Ship-Breaker for Lack of Alleged...

CPC Wrongly Disallows Loss Carry-Forward: ITAT Confirms Extended Due Date for Companies with...

Section 80IA(4)(ii) of IT Act would still apply even if same undertaking were to expand or add...

Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, held that foreign currency expenses on telecommunication charges and technical services outside India should not be excluded from the export...

Central Govt to Monitor International Transactions over Rs 50k as per New PMLA Rules

The Central Government is all set to monitor international transactions over Rupees 50,000/- as per the new Prevention of Money-laundering (Maintenance of Records) Rules, 2005 (PMLA Rules). Under...

Central Govt - Monitor International Transactions - New PMLA Rules - taxscan

RPM is the most Appropriate Method in International Transactions of Celio Future Fashion pertaining to Import of Men’s Wear for Resale: ITAT directs De novo Benchmarking [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed denovo benchmarking holding that the Resale Price Method (RPM) is the most appropriate method in international transactions of...

CUP is the Most Appropriate Method for International Transactions for Computation of PLI: ITAT grants Relief to Lenovo India [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has recently while granting relief to Lenovo India held that Comparable Uncontrolled Price (CUP) is the most appropriate method...

Net Profit Margin to be Adjusted to take into Account the differences between International Transactions and Comparable Uncontrolled Transactions: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Bangalore, has recently while deciding an appeal filed before it by an assessee, held that net profit margin arising in comparable uncontrolled...

ITAT deletes upward Adjustment on International Transactions for Payments of Interest on FCDs [Read Order]

The upward adjustment on international transactions for “payments of interest on Fully Convertible Debentures (FCD)” was deleted by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). ...

Transfer Pricing Adjustment should be Restricted only to AE Related Transactions of Assessee: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the transfer pricing adjustment shall be restricted only to AE related transactions of the assessee. The assessee is a...