Editor's Pick

CBDT proposes draft 'indirect transfer' valuation rules, 11 areas of reporting by Indian cos

CBDT notifies draft rules for determination of Fair Market Value (FMV)  and reporting requirement for Indian concerns in

May 23,2016

Akhilesh Ranjan: BEPS Multilateral instrument won't affect India-Mauritius protocol

Akhilesh Ranjan (Principal CCIT - International Tax & Transfer Pricing) speaks on interplay of India-Mauritius protocol and BEPS

May 20,2016

HC: Tax-refunds a' debt claim', interest on such refund exempt under Indo-Italy DTAA

Madras HC reverses ITAT order, holds that interest on income-tax refund arising to assessee (an Italy-based company) u/s 244A

May 20,2016

ITAT: Software-payments not royalty under treaty; TDS inappliable even on Hong Kong payments pre-2012

Payment by Reliance Industries Ltd. (‘assessee’) to residents of different countries such as Australia, Canada, Singapore, Japan, Netherlands,

May 20,2016

ITAT: Forex loss on loan has nexus with interest cost saving, allows deduction

Pune ITAT allows deduction of foreign exchange fluctuation loss on outstanding foreign currency loan 

May 18,2016

HC: Rejects re-assessment on US-parent, Indian-subsidiary assessed at arm's length not PE

Delhi HC quashes reassessment on US company (‘assessee’), holds that AO’s belief that assessee’s India subsidiary (which was subjected

May 17,2016

ITAT: Raises doubts on ESOP scheme, denies expense deduction; Distinguishes Novo Nordisk ruling

Chennai ITAT denies deduction for ESOP expenses incurred by assessee-company through ESOP trust for buying equity shares from

May 17,2016

CBDT effects pan-India annual transfer of over 500 IRS officers

CBDT orders 111 inter-city transfers and 62 local transfers in the grade of Asst. CITs and local transfers

May 17,2016

HC: Quashes CBDT instruction curtailing refund issuance; Powers u/s 119 'hedged by limitations'

HC quashes CBDT Instruction No. 1/2015 dated January 13, 2015, rules that the instruction shall not berelied upon to

May 16,2016

HC: 'Income-diversion' principle inapplicable to shareholders directly receiving de-merger consideration; Applies 'look-at' test

Delhi HC reverses ITAT ruling, holds that 'part consideration' for demerger paid directly to transferor company's shareholders instead

May 16,2016