25 January 2017
The assessee is engaged in the business of manufacture and sale of polished diamonds. The assessee entered into an international transaction with a Belgian Entity by name Blue Gems BVBA. The Assessing Officer (AO) was of the view that the said entity would qualify to be Associated Enterprises (AEs) on the ground that the assessee and Blue ...
17 July, 2015
Corporate guarantees have often been examined for transfer pricing adjustment. While there are number of judgements on how to determine the ALP and that bank rates are not to be applied, whether the transaction is an international transaction is always intriguing.
ITAT, Hyderabad in its decision in Four Soft P Ltd v. DCIT...
19 June, 2015
Advance Pricing Agreement (‘APA’) Scheme was introduced in the statute in 2012, which authorizes the CBDT to enter into agreement with the taxpayers, prescribing the arm’s length price (ALP) for international transaction which have been undertaken (which are continuous in nature) and those to be entered into between related parties in t...
By Sumeet Khurana
A person resident of India under the Income-tax Act, 1961 (‘the IT Act’) is liable to tax in India on his global income [see end note 1]. The resident, when transacting with its Associated Enterprise (AE) is obliged to offer to tax, the income arising
Dated: Sep 27, 2016
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