LIBOR is best benchmark under transfer pricing for interest-free loan granted to AE

IT/ILT : Where assessee advanced interest-free loan to its AE, LIBOR is best basis for benchmarking interest rate and since there was no independent CUP rate available to benchmark said international transaction, as per RBI guidelines, Assessing Officer should adopt 6 months LIBOR + 150 basis points for three years and LIBOR + 250 basis points for five years

Goods bearing brand name of other are ineligible for SSI exemption even if they are captively consum

Excise & Customs : Goods bearing brand name of buyer are ineligible for SSI-exemption even if they are used captively by buyer for further manufacture; hence, they are not includible in aggregate value/eligibility turnover under SSI-exemption

CIT(A) rightly directed AO to allow sec. 10B relief after considering additional ground raised by as

IT : Where Assessing Officer disallowed claim of assessee for deduction under section 10B and on appeal assessee filed additional ground raising an alternative claim that it was entitled for deduction under section 10A, Commissioner (Appeals) was right in directing Assessing Officer to consider alternative claim of assessee

Proceedings concluded by High Court couldn't be reopened due to retro-amendment to sec. 201

IT: Proceedings concluded by High Court couldn't be reopened due to retro-amendment to sec. 201

Due date for e-filing of returns further extended to Nov 30, 2015 for e-commerce dealers of Delhi

VAT/DELHI : Extension Of Last Date For Filing of Online Returns for First and Second Quarters of 2015-16, in Forms EC-II and EC-III

Tenure of High Level Committee extended by one year for identifying area where clarity on tax laws i

IT/ILT : Terms of High Level Committee (HLC) to Interact with Trade & Industry on Tax Laws Extended by One Year Beyond 25-11-2015

Inbound roaming services to foreign telecos deemed as exports for purposes of service-tax rebate

Service Tax : Inbound-roaming services provided to Foreign Telecom Operators (FTOs) in case of foreigners visiting India amounts to 'export of services' and is eligible for rebate within time-limit specified in section 11B of Excise Act

DIPP issues a draft list containing various activities with relevant para of FDI Policy

FDI/FEMA/ILT : Discussion Paper on Mapping of FDI Policy with NIC Code 2008

Govt. amends FDI Policy for various sectors including construction and defence sectors

FDI/FEMA/ILT : Review of Foreign Direct Investment (FDI) Policy on Various Sectors

SEBI reduces time gap between closure of public issue and listing of equity shares/convertibles

SEBI : Streamlining Process of Public Issue of Equity Shares and Convertibles

AO gets flak from ITAT for allowing sec. 54B relief without inquiring into usage of land for agricul

IT : Where while allowing deduction under section 54B, there was no enquiry whether land sold was used for agricultural purposes in last two years or not, assessment order passed by Assessing Officer was erroneous and prejudicial to interests of revenue inviting action under section 263