Bharatiya Sakshya Adhinyam, 2023 (BSA) Vs. Indian Evidence Act of 1872 (IEA)

The Bharatiya Sakshya Adhinyam, 2023 (BSA) replaces the Indian Evidence Act of 1872 (IEA) and it was approved by both the Lok Sabha and Rajya Sabha on December 20 and December 21, 2023, respectively, before receiving presidential assent on December 25, 2023. The key objectives of BSA are to modernize, simplify, and streamline how evidence […]

Taxbuzz | Royalty paid on inter-company sales not at Arm’s Length

Payment of royalty on the sales made to the associated enterprise has always been disputed by the Indian Transfer Pricing department as not satisfying the arm’s length test. In a recent ruling[1], the Hon’ble Delhi Bench of Tribunal was pleased to delete the transfer pricing adjustment made in respect of payment of royalty on invoices […]

Tax Alert | Underwent Business Reorganization – The Clock Is Ticking

We are pleased to share our thoughts on the recent CBDT order dated 13 March 2024, wherein blanket approval has been granted to successor companies to furnish the return of income with modified particulars for the relevant assessment year(s) in accordance with and limited to the order of business reorganization (amalgamation or demerger or merger) […]