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The global economy has succumbed to the uninvited guest, COVID-19, which arrived at the beginning of the year and brought an onslaught of huge ramifications on the economy and businesses as a whole.

The Central Board of Direct Taxes (CBDT), vide notification on 5 April 2021, issued amendments to the Indian Income-tax Rules, 1962 (the Rules), namely Income-tax (9th Amendment) Rules, 2021.

Recently,Mumbai Tribunal in Sulzer pumps India Pvt. Ltd. [TS-1156-ITAT-2018(Mum)-TP], had the occasion to distinguishbetween a ‘contract manufacturer' and ‘licensed manufacturer'...

Apart from this, there have been some crucial announcements and rulings in the areas of direct tax, transfer pricing, and indirect tax.

SKP's flagship publication that captures key developments in the areas of Tax and Regulatory.

We are pleased to present the latest edition of Tax Street – our newsletter that covers all the key developments and updates in the realm of taxation in India and across the globe...

Transfer pricing rules basically determines the value at which companies trade products, services or assets between two units across borders.

In Transfer Pricing documentation/ audits, it has often been observed that taxpayers/ Tax Authorities alike have mistakenly benchmarked

Traditionally, the taxation of business profits has been linked to a physical presence-based nexus rule. While this was sufficient in the brick-and-mortar economy, the rapid digitalisation of the economy...

In a recent ruling, the Mumbai Income-tax Appellate Tribunal, relying on the Tally Solutions case, has held that when the future cash flow or revenue stream projections of a private investment company are uncertain...

Taurian Iron & Steel Co. Private Limited, during previous year relevant to the assessment year under review, advanced share application money to its wholly owned subsidiary in South Africa...

No TP adjustment on imports at lesser value under predatory pricing policy to capture market.

The Assessee filed appeal before CIT(A) and during the pendency of appeal, filed application before AO seeking stay of demand under Section 220(6) of the Act,

The issue of Advertising, Marketing and Promotion (‘AMP") expenses is no longer res integra and has been dealt with by many high courts in India.

Section 206C of the Income Tax Act, 1961 provides for the collection of tax at source ("TCS") on foreign remittance through the Liberalised Remittance Scheme ("LRS") and on sale of overseas tour packages.

On 10 October 2014, the Bombay High Court delivered a judgment in favour of Vodafone India Services Private Limited in a long-pending USD 490 million tax dispute.

Movement of expatriates cross borders potentially creates several tax and regulatory issues.