AO cannot ask start-up to submit bank statements/ITRs of reputed NR investors to verify funds raised from them.
Raw Pressery (P.) Ltd. v. ACIT – [2022] 143 taxmann.com 158 (Mumbai-Trib.).
CBDT specifies jurisdiction of CIT(A) for filing faceless appeals for cases related to International Tax & TP.
Notification No. S.O. 4873 (E), dated 13-10-2022.
Employees contribution to ESI/PF paid before filing of ITR not deductible even for AYs prior to AY 2021-22.
Checkmate Services (P.) Ltd. v. CIT – [2022] 143 taxmann.com 178 (SC).
No Equalisation Levy if, person running ads on ‘Google’ and target audience, both located outside India.
DCIT v. Prakash Chandra Mishra – [2022] 143 taxmann.com 121 (Jaipur-Trib.).
CBDT amends definition of ‘non-reporting financial institution’ for purpose of reporting under FATCA.
Notification No. 112/2022, dated 07-10-2022.
GAAR can be invoked even if funding arrangement complies with Thin Cap & TP: New Zealand’s Supreme Court.
Frucor Suntory New Zealand Ltd. v. Commissioner of Inland Revenue – [2022] 143 taxmann.com 114 (SC-NZ).