It gives us immense pleasure to share a landmark judgment, pronounced on 15 December, 2021 by the Hon’ble Delhi High Court allowing around 1400 writ petitions filed by assessees and quashing the notices issued by the Department under section 148 of the Income Tax Act, on and after 1st April, 2021, under the old law. […]
The Hon’ble Finance Minister presented the Finance Bill 2021 in an unprecedented environment of economic slowdown. The Budget focused on measures to boost the economy and as promised by the Hon’ble Finance Minister, it is a “Budget Like Never Before”. However, as it is said, the ‘Devil lies in the details’. In the Finance Bill, […]
Recently, the Foreign Contribution (Regulation) Act, 2010 which regulates the acceptance and utilisation of foreign contribution by individuals, associations, and companies in India was amended. The Foreign Contribution (Regulation) Amendment Bill, 2020 was passed by both the houses of Parliament and received assent of the President of India on the 28th September 2020. The Foreign […]
In the aftermath of COVID-19, benchmarking of profit margins of the low risk captive service providers from Transfer Pricing perspective would be a complex exercise, as the combined profitability in the value chain is shrinking and the associated enterprise would be seeking to renegotiate the remuneration paid as a cost plus mark-up, to reflect the […]
We are pleased to share with you recent judgments passed by Hon’ble Delhi High Court on the maintainability of application under Section 9 of Arbitration and Conciliation Act, 1996 for seeking interim reliefs from Courts. In the case of Ashwani Minda And M/S Jay Ushin Limited v. M/S U-Shin Limited And M/S Minebea Mitsumi Inc., […]
Central Board of Direct Taxes has notified that the conditions to avail the safe harbour under section 9A of the Income Tax Act, 1961 shall not be applicable in case of an investment fund set up by a Category-I foreign portfolio investor (FPI) registered under the Securities and Exchange Board of India (Foreign Portfolio Investors) […]
