Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Foreign exhibition-sale income already assessed under the Income-tax Act through a final Settlement Commission order is excluded from undisclosed foreign income under the Black Money Act, 2015. Section 4(2) excludes foreign-source income variations made in assessment or reassessment under business-income provisions, while Sections 4(2) and 4(3) prevent the same income from being taxed again. Settlement proceedings culminating in a final order are described as a statutory mode of assessment; accordingly, foreign sales considered and taxed as business profits in those proceedings cannot be reassessed under the 2015 Act, as that would produce impermissible double taxation.
Foreign exhibition-sale income already assessed under the Income-tax Act through a final Settlement Commission order is excluded from undisclosed foreign income under the Black Money Act, 2015. Section 4(2) excludes foreign-source income variations made in assessment or reassessment under business-income provisions, while Sections 4(2) and 4(3) prevent the same income from being taxed again. Settlement proceedings culminating in a final order are described as a statutory mode of assessment; accordingly, foreign sales considered and taxed as business profits in those proceedings cannot be reassessed under the 2015 Act, as that would produce impermissible double taxation.
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