India has 3rd largest number of transfer pricing cases: E&Y
12 years, 7 months ago

India has 3rd largest number of transfer pricing cases: E&Y

Firstpost  

With about 3,500 disputes, India has the third largest number of pending cases related to transfer pricing in the world, says global consultancy E&Y. Currently, India has about 3,500 disputes related to transfer pricing pending at various authorities, as per data compiled by Ernst & Young from different parts of the world. E&Y noted that pending disputes on transfer pricing are about 3,500 with Dispute Resolution Panel, Commissioner of Income Tax and Income Tax Appellate Tribunal. Further, E&Y said that companies should pursue tax certainty and evaluate Advance Pricing Agreements to better manage the growing geographic footprint of transfer pricing requirements, among others.

India Tax Transfer Pricing Pending Pending Cases Transfer Pricing 3Rd Largest Disputes Related  world  number  tax  pending  ey  disputes  related  transfer  india  pricing  3rd  largest  cases  3500

History of this topic

Transfer Pricing | Existence Of International Transaction Must Be Determined Before Benchmarking Analysis Is Commenced: Delhi HC
2 weeks, 4 days ago

Transfer Pricing | Existence Of International Transaction Must Be Determined Before Benchmarking Analysis Is Commenced: Delhi HC

Live Law  

The Delhi High Court has held that before the Income Tax Department commences transfer pricing benchmarking analysis of an assessee's international transactions, the very existence of such 'international transaction' must be determined. A division bench of Justices Yashwant Varma and Harish Vaidyanathan Shankar, while dealing with the case of an Indian entity producing liquor for brands like Jim Beam, observed, …

Transfer Pricing | Resolution Under Mutual Agreement Procedure Is By Consensus, Cannot Be Imposed Upon Assessee: Delhi HC
1 month, 1 week ago

Transfer Pricing | Resolution Under Mutual Agreement Procedure Is By Consensus, Cannot Be Imposed Upon Assessee: Delhi HC

Live Law  

The Delhi High Court has made it clear that a dispute with respect to arm's length price in a transfer pricing can be resolved under Mutual Agreement Procedure only by consent and negotiations between contracting parties. Thus, the question before the Court was whether it is apposite to use the framework agreed by competent authorities of the US and India …

Union Budget 2021: Global firms, Indian MNEs better off with predictable tax regime, transfer pricing certainty
4 years, 2 months ago

Union Budget 2021: Global firms, Indian MNEs better off with predictable tax regime, transfer pricing certainty

Firstpost  

The economy crippled by the pandemic is showing signs of a rebound. Global and Indian multinational enterprises while focussing on business want a predictable tax regime and often regard transfer pricing as a key risk for cross-border transactions and structures. It would also supplement India’s successful Advance Pricing Agreement programme and provide long-lasting transfer pricing certainty. The APA programme itself …

Relief in sight for MNCs as govt moves to expedite resolution to tax disputes
8 years, 11 months ago

Relief in sight for MNCs as govt moves to expedite resolution to tax disputes

India TV News  

Relief in sight for MNCs as govt moves to expedite resolution to tax disputes Aimed at reducing the number of tax disputes India is involved in with top multi-national companies, the government is now looking to expedite the resolution process and do so aggressively. New Delhi: Aimed at reducing the number of tax disputes India is involved in with top …

Vodafone wins transfer pricing tax dispute case
9 years, 5 months ago

Vodafone wins transfer pricing tax dispute case

The Hindu  

In a major relief to British telecom major Vodafone in the transfer pricing case, the Bombay High Court on Thursday ruled in its favour, setting aside a >tax demand of Rs. The court decision came as Vodafone challenged the order of the Income Tax Appellate Tribunal >which held last year that it structured the deal with Hutchison Whampoa Properties, a …

Bombay HC judgment in Vodafone case will help Nokia: President Mukherjee
10 years, 5 months ago

Bombay HC judgment in Vodafone case will help Nokia: President Mukherjee

Live Mint  

Oslo: Allaying investors fear, President Pranab Mukherjee on Tuesday said that the Bombay high court verdict in the Vodafone taxation case, if prevails, will help Finnish phone manufacturer Nokia as also 26 others. In his interview to Finnish media ahead of his departure to Helsinki on Tuesday, Mukherjee said the concept of the Indian Tax Department is that a transfer …

FM takes transfer pricing route to rake in the moolah
12 years, 1 month ago

FM takes transfer pricing route to rake in the moolah

Firstpost  

If the capital-hungry govt falls for blackmail by global majors, it is sure to loose a huge amount of money. With the government scrambling for funds to fill the huge gaps in its finances, the income tax department seems to be training its guns on foreign companies in India over transfer pricing issues. According to the ET report today, the …

After Vodafone, will Budget 2012 change norms on taxing international deals?
13 years, 1 month ago

After Vodafone, will Budget 2012 change norms on taxing international deals?

Firstpost  

The APA mechanism will allow companies to enter into agreements with the tax authorities to prevent future disputes with regard to pricing of products and services for the purpose of cross-border trade between related entities Following the Vodafone tax saga, the government has come under increasing pressure to change taxation rules on international transactions, especially in areas of transfer pricing …

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