Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
The India-Sri Lanka tax treaty is amended to expressly prevent non-taxation or reduced taxation arising from tax evasion, avoidance and treaty-shopping arrangements that indirectly benefit third-State residents. It also introduces a principal purpose test: treaty benefits may be denied where, considering all relevant facts and circumstances, obtaining the benefit was one of the principal purposes of an arrangement or transaction, unless granting it accords with the object and purpose of the relevant treaty provisions. The Protocol entered into force on 19 June 2026 and applies in India to income derived in fiscal years beginning on or after 1 April 2027.
The India-Sri Lanka tax treaty is amended to expressly prevent non-taxation or reduced taxation arising from tax evasion, avoidance and treaty-shopping arrangements that indirectly benefit third-State residents. It also introduces a principal purpose test: treaty benefits may be denied where, considering all relevant facts and circumstances, obtaining the benefit was one of the principal purposes of an arrangement or transaction, unless granting it accords with the object and purpose of the relevant treaty provisions. The Protocol entered into force on 19 June 2026 and applies in India to income derived in fiscal years beginning on or after 1 April 2027.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
