https://www.taxtmi.com/acts?id=21413 A foreign company newly said to be resident in India may be brought within the domestic tax regime for that previous year by notification prescribing exceptions and adaptations to apply provisions on income computation, depreciation, loss set off, collection and anti avoidance; notifications are laid before Parliament. If benefits granted under such notification are later found to be conditional and conditions are not met, those benefits are deemed wrongly allowed and the Assessing Officer may re compute and amend the total income as if the notification had not applied, using the amendment procedure tied to the year of non compliance. en-us Thu, 12 May 2016 15:34:55 +0530 Thu, 28 Aug 2025 14:37:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=21413 A foreign company newly said to be resident in India may be brought within the domestic tax regime for that previous year by notification prescribing exceptions and adaptations to apply provisions on income computation, depreciation, loss set off, collection and anti avoidance; notifications are laid before Parliament. If benefits granted under such notification are later found to be conditional and conditions are not met, those benefits are deemed wrongly allowed and the Assessing Officer may re compute and amend the total income as if the notification had not applied, using the amendment procedure tied to the year of non compliance. Act-Rules Income Tax Thu, 12 May 2016 15:34:55 +0530 https://www.taxtmi.com/acts?id=21413