CBDT notifies amendments in Income Tax Rules 1962 to expand the scope of Safe Harbour Rules
Section 92BC of the Income Tax Act 1961 inter alia empowers the CBDT to make safe harbour rules for the determination of arm’s length price under section 92C or section 92CA.
The CBDT has notified Notification No. 21/2025 dated 25.03.2025 expanding the scope of safe harbour rules by:
(a) Increasing the threshold for availing the Safe Harbour Rules from Rs. 200 crores to Rs. 300 crores.
(b) Including the “lithium ion batteries for use in electric or hybrid electric vehicles” in the definition of core auto components.
To provide tax certainty to the assessee opting for safe harbour, the amendment are applicable to two assessment years 2025-26 and 2026-27.
CBDT has extended the due date for furnishing Return of Income for Assessment Year 2026-27 (FY 2025-26) in respect of…
Denying the accumulation of u/s 11(2) merely on grounds of a procedural delay in filing Form No. 10 is unsustainable…
Engagement of 05 Young Professionals CAs in the Office of Central Registrar of Cooperative Society on contractual basis The office…
Immunity u/s 270AA(2) in respect of a single transaction can not be denied to one assessee when the penalty was…
ITAT deleted addition u/s 69A towards jewellery found in search in view of Indian traditions, CBDT Instruction and High Court…
Documents obtained post search and information obtained from the public domain not incriminating material. Documents obtained by AO post search…