Appeal allows marketing payments as deductible business expenses under Sec.37; director pay retained; R&D deductible from certificate date under Sec.3...
Registration under s.12AB upheld; CIT(Exemptions) exceeded jurisdiction by deciding taxability instead of preliminary verification and registration di...
Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
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An amendment to the borrowing-and-lending regulations permits authorised dealer banks to extend loans denominated in Indian rupees to persons resident in Bhutan, Nepal or Sri Lanka, including banks in those jurisdictions, specifically for cross-border trade transactions. The change inserts a new clause into the principal regulations and takes effect upon publication in the official gazette, enacted by the central banking authority under its statutory powers to modify foreign exchange rules.
An amendment to the borrowing-and-lending regulations permits authorised dealer banks to extend loans denominated in Indian rupees to persons resident in Bhutan, Nepal or Sri Lanka, including banks in those jurisdictions, specifically for cross-border trade transactions. The change inserts a new clause into the principal regulations and takes effect upon publication in the official gazette, enacted by the central banking authority under its statutory powers to modify foreign exchange rules.
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