Transfer Pricing: Tax Tribunal Allows Refund To Overseas Entity

In a landmark ruling last month, the Mumbai bench of the Income Tax Appellate Tribunal has granted relief to a foreign entity on the tax paid by it. If the foreign company has returned the excess royalty paid by its Indian entity, its tax outgo will also stand reduced, the ITAT has held. Welcoming the ruling, Maulik Doshi, executive director at consulting firm Nexdigm said currently there is no provision in the tax law to claim such a...

Read More