International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Rule 128 of the Income-tax Rules, 2026 is amended to exclude from Chapter XI any income from transfer of investments made before 1 April 2017 by the same person, where such income accrues, arises, or is deemed to accrue, arise, or be received. The amended rule also clarifies that Chapter XI applies to arrangements regardless of when entered into if the tax benefit is obtained on or after 1 April 2017, except for the specified pre-2017 investment transfer income. The amendment comes into force on 1 April 2026.
Rule 128 of the Income-tax Rules, 2026 is amended to exclude from Chapter XI any income from transfer of investments made before 1 April 2017 by the same person, where such income accrues, arises, or is deemed to accrue, arise, or be received. The amended rule also clarifies that Chapter XI applies to arrangements regardless of when entered into if the tax benefit is obtained on or after 1 April 2017, except for the specified pre-2017 investment transfer income. The amendment comes into force on 1 April 2026.
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