Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
A draft assessment order is required before a prejudicial variation is made to an eligible non-resident individual, preserving the statutory opportunity to seek Dispute Resolution Panel review; the article reports that bypassing this requirement rendered the final assessment jurisdictionally invalid. It further states that best judgment assessment requires actual statutory non-compliance, which was absent where a verified return and supporting responses were furnished. Assessment of an accepted non-resident must be completed by the International Taxation officer, and faceless proceedings did not cure the Gurgaon officer's lack of jurisdiction. Duplicate Form 26AS reporting could not justify an addition where the property deed, bank records and remittance source explained the actual purchase. The reported assessment, demand and penalty notice were quashed without remand.
A draft assessment order is required before a prejudicial variation is made to an eligible non-resident individual, preserving the statutory opportunity to seek Dispute Resolution Panel review; the article reports that bypassing this requirement rendered the final assessment jurisdictionally invalid. It further states that best judgment assessment requires actual statutory non-compliance, which was absent where a verified return and supporting responses were furnished. Assessment of an accepted non-resident must be completed by the International Taxation officer, and faceless proceedings did not cure the Gurgaon officer's lack of jurisdiction. Duplicate Form 26AS reporting could not justify an addition where the property deed, bank records and remittance source explained the actual purchase. The reported assessment, demand and penalty notice were quashed without remand.
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