Tuesday , May 26, 2026 |   22:51:31 IST
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NEWS FLASH
 
The Great Unchaining: Can India Escape China's Supply-Chain Grip? (See TII SPECIAL) TP - Amortization of goodwill is an extraordinary item affecting normal profitability & should be treated as non-operating for purpose of computing PLI under TNMM: ITAT (See Breaking News) TP - Outer time limit u/s 153 applies to final assessment order including transfer pricing determination and not merely to draft order: ITAT (See Breaking News) India-Brazil revamped tax treaty (See TII Edit) TP – No ALP is to be made on outstanding receivables in absence of any inter-company agreement or email correspondence between AES: ITAT (See Breaking News) I-T - Mere grant of stay or pendency of further proceedings does not obliterate existence or binding nature of judgment unless it is set aside: ITAT (See Breaking News) TP - Functional dissimilarity and variation in business segment calls for exclusion of comparable: ITAT (See Breaking News) TP - DRP process forms part of assessment proceedings and does not displace outer limitation prescribed by section 153: ITAT (See Breaking News) TP – If comparable is already accepted by TPO and such acceptance is upheld by CIT (A), then Revenue cannot seek its exclusion on ground that it is functionally not comparable: ITAT (See Breaking News) I-T - Buy-back amounted to transfer of shares within same corporate group and qualified as corporate reorganization under Article 13(5) of Indo Netherland Treaty: ITAT (See Breaking News) I-T – If borrowed funds are used for expansion or extension of business, including through acquisition of entity in same line of business, interest may be allowable u/s 36(1)(iii): ITAT (See Breaking News) I-T - Sections 144C and 153 are mutually inclusive and period of limitation for passing final assessment order u/s 144C(13) has to be determined with reference to sec 144C r/w/s 153: ITAT (See Breaking News) DTAA - Benefit of FTC u/s 90 r/w applicable DTAA cannot be denied merely on account of delay in filing Form 67 when taxes have actually been paid abroad: ITAT (See Breaking News) I-T - Sections 144C & 153 are inter-dependent; overall time limit prescribed u/s 153 applies to completion of entire assessment, including DRP proceedings & passing of final assessment order: ITAT (See Breaking News) I-T - Time-limit prescribed u/s 153 has to be adhered to and both Section 144C and 153 are mutually inclusive & interdependent: ITAT (See Breaking News) I-T - If notice issued by AO u/s 148 is barred by limitation as per mandate of ‘first proviso' to Sec 149, consequential assessment order passed on basis of same u/s 147 r.w.s 144 is to be quashed: ITAT (See Breaking News) DTAA - Collating & providing access to information already available in public domain databases relating to properties situated in US does not entail transfer of specialised commercial experiece, know-how or technical expertise; fee received therefor not Royalty: ITAT (See Breaking News) DTAA - Income from technical handling services is not taxable in India as it is covered under Art 8(2) r/w Art 8(1) of Indo France Treaty: ITAT (See Breaking News) Real household income grows in Q4 in OECD area (See TII Brief) TP - Amortization of goodwill arising out of merger & acquisition is extraordinary, non-recurring item not arising from normal business operations; cannot be treated as an operating expense for computation ofprofit level indicator: ITAT (See Breaking News)
 
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TII BREAKING NEWS
 
TP - Amortization of goodwill is an extraordinary item affecting normal profitability & should be treated as non-operating for purpose of computing PLI under TNMM:
TP - Outer time limit u/s 153 applies to final assessment order including transfer pricing determination and not merely to draft order: ITAT
TP - No ALP is to be made on outstanding receivables in absence of any inter-company agreement or email correspondence between AES: ITAT
I-T - Mere grant of stay or pendency of further proceedings does not obliterate existence or binding nature of judgment unless it is set aside:
< More News >
 
TII SPECIAL May 26, 2026
 
The Great Unchaining: Can India Escape China's Supply-Chain Grip?
By Dr Joshua Ebenezer

 

An analytical perspective on Decrees 834 and 835, geo-economic warfare, and what India must do next.

THE age of tariff wars was, in retrospect, almost quaint. When nations disagreed, they raised duties, filed WTO complaints, waited years for panels, and occasionally retaliated with counter-measures. The architecture of dispute was

 
TII EDIT May 25, 2026
 
India-Brazil revamped tax treaty
By D P Sengupta

INDIA and Brazil, both are original founder members of the BRIC grouping that subsequently became BRICS with the addition of South Africa and currently comprises Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa and UAE as full members. (BRICS+). Many see the grouping as a counter weight to

 
BULLETIN BOARD
 
New Delhi, Mar 05, 2026
Income Tax Amendment Rules 2026 notified; definition for central bank digital currencies i...
New Delhi, Jan 06, 2026
CBDT notifies certain pension funds u/s 10(23FE...
New Delhi, Nov 10, 2025
CBDT notifies protocol amending DTAA between India and Belgium...
New Delhi, Nov 06, 2025
I-T - ALP u/s 92C - CBDT notifies connotation of ‘wholesale trading’ in international ...
< More News >
 
TII BRIEF
 
Paris, May 26, 2026
G20 goods trade rises sharply in Q1 ...
New Delhi, May 14, 2026
Real household income grows in Q4 in OECD area ...
Paris, Mar 17, 2026
G20 economic growth tapers down to 0.7% in Q4 ...
Paris, Feb 25, 2026
Services trade expands modesty in Q4 of OECD Area ...
New Delhi, Feb 24, 2026
India-France inks Protocol to amend DTAA ...
 
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