Appeal dismissed; merger validity not reopened, leasehold rights transferred to corporate debtor formed liquidation estate; section 36(4)(a)(iv) inapp...
The government notifies that for assessment year 2025-26 an international or specified domestic transaction's actual price will be deemed the arm's-length price if the difference between the arm's-length price under section 92C and the actual transaction price does not exceed 1% of the actual price for wholesale trading and 3% for all other cases. Wholesale trading is defined by (a) finished goods purchase cost ≥80% of total trading costs and (b) average monthly closing inventory ≤10% of related sales. The explanatory memorandum states the tolerance ranges and that no one will be adversely affected by retrospective application.
The government notifies that for assessment year 2025-26 an international or specified domestic transaction's actual price will be deemed the arm's-length price if the difference between the arm's-length price under section 92C and the actual transaction price does not exceed 1% of the actual price for wholesale trading and 3% for all other cases. Wholesale trading is defined by (a) finished goods purchase cost ≥80% of total trading costs and (b) average monthly closing inventory ≤10% of related sales. The explanatory memorandum states the tolerance ranges and that no one will be adversely affected by retrospective application.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
