A related story>
Going the arm's length, locally
GENESIS AND COVERAGE
The Supreme Court in the case of Commissioner of Income tax v. Glaxosmithkline Asia (P) Ltd observed that if the Government wanted to check tax arbitrage opportunities that stem from differential tax rates and the presence of accumulated losses, it ought to introduce TP provisions, which would cover such of domestic transactions. The transactions covered are:
Not an unrelated one>The party’s over for tax dodgers
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