Wednesday 19 March 2014

Transfer Pricing: A transaction (such as a corporate guarantee) which has no bearing on profits, incomes, losses or assets of the enterprise is not an ‘international transaction’ u/s 92B(1) and not subject to transfer pricing

Bharti Airtel Limited vs. ACIT (ITAT Delhi)

(iii) When an assessee extends assistance to the AE, which does not cost anything to the assessee and particularly for which the assessee could not have realized money by giving it to someone else during the course of its normal business, such an assistance or accommodation does not have any bearing on its profits, income, losses or assets, and, therefore, it is outside the ambit of international transaction u/s 92B (1)

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All about Form 10AB in the context of Charitable Trusts:

1. Introduction: Every trust/charitable society/ NGO that wishes to claim the tax exemption benefits has to file Form 10A to seek fresh re...