Tag Archives: assessment

CBDT notifies new Safe Harbour Regime: Govt.

In order to reduce transfer pricing disputes, to provide certainty to taxpayers, to align safe harbour margins with industry standards and to enlarge the scope of safe harbour transactions, the Central Board of Direct Taxes (CBDT) has notified a new … Continue reading

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Proviso to Sec 113 IT Act retrospective in nature: SC

In a very important ruling regarding levy of surcharge on block assessment of income, the Supreme Court of India ruled that the proviso to Section 113 of the Income Tax Act imposing surcharge shall not have a retrospective affect. “…….. … Continue reading

Posted in Banking Law, Income Tax Law, International Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

CBDT lists procedures for mandatory scrutiny of cases

Central Board of Direct Taxes today announced procedure and criteria for mandatory scrutiny of cases. The following cases/returns shall be compulsorily scrutinized: (a) Cases where value of international transaction as defined u/s 92B of IT Act exceeds Rs. 15 crores. … Continue reading

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