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TP- ICDS-I principles take precedence over Ind-AS, requiring use of cost price or acquisition cost of investments: ITAT (See Breaking News) TP - If final assessment order passed by AO u/s 143(3) r.w.s. 144C(13) r.w.s. 144B is beyond upper time limit provided u/s 153(1) and Section 153(4), then said order is beyond limitation period: ITAT (See Breaking News) I-T - Attribution of revenue to a Permanent Establishment does not limit deduction of expenses incurred to earn that revenue: HC (See Breaking News) I-T - Assessee's statutory right to have objections adjudicated by DRP u/s 144C cannot be defeated by bona fide procedural error, such as filing objections with incorrect AO: HC (See Breaking News) I-T - Where assessee, eligible u/s 144C has filed objections to draft assessment order before DRP, AO cannot lawfully pass final assessment order: HC (See Breaking News) I-T - Authority deciding applications u/s 197 is obligated to decide as per provisions of Income Tax Act, and with due regard to treaties between countries, without being influenced by revenue targets: HC (See Breaking News) I-T - If non-resident's income from mineral oil exploration activities qualifies as FTS or Royalty and is connected to Permanent Establishment in India, it must be taxed u/s 44DA, which overrides Section 44BB: HC (See Breaking News) TP - Failure of TPO to supply copies of agreements that form basis of its findings constitutes violation of principles of natural justice: HC (See Breaking News) Services trade expands modesty in Q4 of OECD Area (See TII Brief) I-T - If operation of airline services is exempt from taxation under relevant DTAA & Income Tax Act, and if there is no outstanding tax demand, competent authority is required to issue NIL certificate u/s 197 for such exempt income: HC (See Breaking News) I-T - Scheme of Section 144C is designed to protect the principles of natural justice and that administrative mechanisms should be put in place to ensure that objections are duly communicated to the AO: HC (See Breaking News) I-T - Objective of Sec 197 is to ensure that where transaction is not taxable, tax is not deducted, thereby protecting assessee's cash flow and preventing Revenue from being burdened with interest on refunds: HC (See Breaking News) DTAA - A Permanent Establishment is to be treated as distinct & separate enterprise & all expenses attributable to it must be allowed, in absence of any specific restriction in DTAA: ITAT (See Breaking News) TP - Time limit for completion of assessment prescribed u/s 153 is definitive outer limit that must be adhered to: ITAT (See Breaking News)
 
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Taxindiainternational.com (“TII”), established on April 23, 2010, is a dedicated portal on international taxation. TII was launched in response to the changing landscape of taxation in India. It happens to be the FIRST comprehensive and exhaustive online resource for the taxpayers and also tax authorities looking for well-arranged resource on Transfer Pricing, Double Taxation Tax Treaties, FDI, FEMA, PMLA, BIPA, NRI and Visa guidelines for various categories of expatriates employed in India by MNEs. 

TII is a sister portal of India’s most prestigious and popular taxation and trade portal Taxindiaonline.com (TIOL). In about to be nine years, TII has carved a niche for its quality, speed and authenticity among domestic as well as international users. It has earned the respect and confidence of many global experts of international taxation. It is a highly reliable resource for the various fora of the Indian judiciary. Its citations are frequently used by the courts in their decisions. Its well-researched articles are regularly referred to by the policy makers in India. Its recommendations are generally respected by the Ministry of Finance in India.

TII has a huge subscriber-base cutting across users community ranging from Foreign Taxation Division in the CBDT, Directorate of Transfer Pricing & International Taxation to advocates, law firms, MNEs, domestic companies and research organisations. It has an enviable team of in-house experts and Consulting Editors who keep an eye on the global trend and keep sensitising the policy makers on the future trends of transforming fiscal world.

Consulting Editor


Mr. D.P. Sengupta: Mr Sengupta, a former member of the IRS, retired as Chief Commissioner of Income Tax after more than 33 years of distinguished service. Before that he had a highly satisfying stint as Joint Secretary in the Tax Policy and Legislation division of the Central Board of Direct Taxes.He also served as Joint Secretary in the Foreign Taxation Division of the Ministry of Finance. He was the Competent Authority for India and represented India in the WP1 of the OECD. He is a well known international taxation expert and spoke at various international tax conferences.

CEO & Managing Editor

Shailendra Kumar, founder and CEO of TIOL started his career with The Indian Express Newspaper in 1990 and then moved to The Economic Times where he worked for more than five years before taking the entrepreneurial route to launch TIOL, an idea based on a business need which he realized as a financial journalist. His vision was to create a knowledge-driven company; which eased the burden on corporations and which acted as a media watchdog for Indian tax and trade policies. He spearheads the business in all of its facets, including regular interactions with various policy makers and administrators, and managing the editorial and news gathering team at TII. He is the recipient of the 2001 Outstanding Media Professional Award presented by the India International Professionals Forum.

 
 
 
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