Tolerance limit of 1 per cent for wholesale trading and 3 per cent in all other cases for ALP determination, for Transfer Pricing remains unchanged for Assessment Year 2023-24.
Notification No. 46/2023, dated 26-6-2023.
Compensation paid for delayed allotment of plot of land is not interest. No TDS u/s 194A.
Sawhney Builders (P.) Ltd. v. ACIT (TDS) – [2023] 151 taxmann.com 97 (Delhi-Trib.).
CBDT amends IT Rules to incorporate Finance Act 2023 amendments related to trusts & institutions.
Notification No. 45/2023, dated 23-6-2023.
CBDT amends Income-tax Rules as per new tax regime; notifies Rule 21AGA and Form 10-IEA to opt for old tax regime.
Notification No. 43/2023/F. No. 370142/15/2023-24 – TPL, dated 21-6-2023.
CBDT notifies scope of e-Appeal Scheme, 2023; outlines its exclusions.
Notification No. F. No. 370149/97/2023 – TPL, dated 16-6-2023.
Customs Valuation would yield a more reliable result for TP if there is no difference in contract terms and product quality.
Louis Dreyfus Company India (P.) Ltd. v. DCIT – [2023] 150 taxmann.com 392 (Delhi-Trib.).