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Income Tax Govt

Mumbai tribunal removes intra-group service transfer pricing addition worth sixteen crore rupees

The ITAT Mumbai deleted an intra-group services transfer pricing addition amounting to sixteen crore three lakh rupees. The tribunal ruled in favor of the assessee after verifying that the disputed services were actually rendered. This decision provides relief regarding tax adjustments on international transactions between related entities.

Effective Not specified in the update

For professionals: Review current transfer pricing documentation for corporate clients to ensure concrete proof of actual service delivery and commercial utility is maintained. Advise clients that documented evidence of service receipt helps prevent arbitrary additions and lowers compliance burdens by countering blanket disallowances for intra-group payments.

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Taxguru3m ago 1 min
Markets Breaking

Indian equity benchmarks log weakest Samvat period in fifteen years with severe losses

Indian stock markets begin Samvat 2083 following a severe downturn where both Sensex and Nifty fell by nearly 8 percent over the past year. Market experts suggest corporate earnings growth, better valuations, and steady domestic inflows might offer support, though ongoing international uncertainties remain a concern.

Effective Not specified in the update

For professionals: Financial advisors need to review portfolio asset allocation and manage risk for clients following the 8 percent correction in the Sensex and Nifty. · Professionals should monitor forthcoming corporate earnings reports, domestic institutional investment flows, and global economic indicators for signs of stabilization.

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LiveMint Markets8m ago 1 min
Markets

Rajesh Power secures massive contract expanding order book significantly as shares rebound

Rajesh Power expanded its total order book by 35 percent to reach approximately ₹5,400 crore after bagging a mega contract worth ₹1,628.74 crore for a Gujarat distribution network. Following a 12 percent monthly stock rebound, analysts advise caution as shares trade in a range between ₹800 support and ₹900 resistance.

Effective Not specified in the update

For professionals: Not specified in the update · Not specified in the update

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LiveMint Markets11m ago 1 min
Business

Dabur reorganizes board leadership as Herjit Bhalla joins and Malhotra departs

Dabur announced a leadership reshuffle involving the appointment of Herjit Bhalla to its board of directors. At the same time, Malhotra has exited the board as part of the corporate governance transition.

Effective Not specified in the update

For professionals: Review regulatory filings, corporate announcements, and biographical details of incoming board members to assess strategic implications for the fast-moving consumer goods sector. · Monitor upcoming shareholder communications and governance reports for further clarity on the leadership roadmap.

Scrips: Dabur

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Indian Retailer13m ago 1 min
Economy Govt

India Plans Immediate Permit Halts for Not of Standard Quality Medications

The central government has proposed an immediate suspension of manufacturing permits for medicines classified as Not of Standard Quality. This regulatory step aims to tighten quality controls across pharmaceutical supply chains to protect public health. Industry participants must review compliance measures carefully as authorities finalize these rules.

Effective Not specified in the update

For professionals: Licensed pharmaceutical manufacturers must audit their internal quality assurance protocols immediately · Compliance officers should review raw material testing records and assess batch failure risks right away

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Dainik Jagran MP CG15m ago 1 min
Economy

Nomura projects Indian rupee exchange rate to reach 92.5 by late 2027

Nomura forecasts the Indian rupee will depreciate to 92.5 against the US dollar by the end of 2027. According to the firm, upcoming United States mid-term political developments are expected to provide supportive economic conditions for India.

Effective Not specified in the update

For professionals: Treasury managers, corporate CFOs, and portfolio investors should factor currency depreciation risks into their hedging strategies, import-export contracts, and foreign asset allocations · Analysts should monitor US macroeconomic policy shifts, foreign portfolio investment trends, and Reserve Bank of India intervention policies

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CNBC TV1817m ago 1 min
Fintech & UPI

Indian tourists in Dubai receive promotional discounts at duty free shops through unified payments

Indian visitors shopping at Dubai Duty Free can claim discounts reaching up to one hundred dirhams by utilizing UPI. This initiative promotes cross-border digital retail transactions between India and the United Arab Emirates. Travelers can take advantage of this saving opportunity during their retail purchases at the airport complex.

Effective Not specified in the update

For professionals: The update does not specify any tax sections, compliance steps, or filing requirements for CAs, CS, or CMA professionals. No notification, circular, or order number is mentioned in the text. Professional impact details are not stated in the update.

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The Economic Times18m ago 1 min
Investment

Market Experts Analyse Q2 Earnings for BSE, NSE, MCX, and IEX Shares

Market analysts evaluated the second-quarter financial performance of major stock and commodity exchanges. According to experts, MCX delivered the strongest growth in both revenue and profit, while BSE also posted robust earnings driven by its derivatives and mutual fund segments.

Effective Not specified in the update

For professionals: Review the detailed financial statements, segment reporting, and volume metrics of individual exchange stocks before advising clients on allocation decisions. · Track forthcoming monthly volume data and margin trends to evaluate operational momentum for exchange operators like MCX and BSE.

Scrips: MCX

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LiveMint Markets18m ago 1 min
Income Tax Govt

ITAT Strikes Down ₹24.47 Crore Transfer Pricing Adjustment Against Royal Canin

The Income Tax Appellate Tribunal deleted a franchise fee transfer pricing adjustment amounting to ₹24.47 crore against Royal Canin. The ruling provides relief to the taxpayer in international taxation and transfer pricing scrutiny matters.

Effective Not specified in the update

For professionals: Tax professionals and corporate tax advisors should review pending transfer pricing litigation involving franchise fees and royalty payments in light of this ruling · Examine assessment records and benchmarking studies to ensure robust defense documentation for similar international transactions · Monitor appellate precedents to better advise multinational clients regarding transfer pricing scrutiny on international transactions and fee payments

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Taxguru19m ago 1 min
Investment

Experts Analyse Bond Yield Impacts in India and Overseas Markets After US Midterms

Financial experts evaluated how political outcomes in the United States influence bond yields in both domestic and international markets. Analysts discussed the macroeconomic transmission channels affecting fixed-income securities following political developments.

Effective Not specified in the update

For professionals: Financial experts evaluated how political outcomes in the United States influence bond yields in domestic and international markets. Analysts discussed macroeconomic transmission channels affecting fixed-income securities following political developments. Fixed-income investors and market analysts should track global yield curves, currency movements, and foreign portfolio flow data.

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Livemint20m ago 1 min
Income Tax Govt

ITAT Mumbai Rules Transfer Pricing Officer Cannot Determine Franchise Fee ALP at Nil Without Proper Benchmarking

The Mumbai bench of the Income Tax Appellate Tribunal held that transfer pricing officers cannot determine the arm's length price of franchise fees at nil without conducting valid benchmarking. The ruling sets clear evidentiary requirements for assessing international transactions.

Effective Not specified in the update

For professionals: Examine pending transfer pricing assessments to ensure revenue authorities adhere to proper benchmarking protocols. · Maintain comprehensive documentation demonstrating the commercial expediency and fair valuation of franchise arrangements.

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Taxguru20m ago 1 min
CA Corner

ICAI Coimbatore Branch Conducts Awareness Session on FAST-DS 2026

The Coimbatore branch of the Institute of Chartered Accountants of India organized an awareness program focusing on FAST-DS 2026. The educational session provided chartered accountants and finance professionals with updates regarding upcoming professional requirements.

Effective Not specified in the update

For professionals: Review branch notifications for presentation slides, procedural summaries, and recorded sessions from the FAST-DS 2026 awareness program. · Brief relevant office staff and audit teams on any new compliance standards or filing procedures discussed during the session. · Stay updated on professional updates, procedural frameworks, and compliance guidelines associated with FAST-DS 2026 to advise corporate and individual clients.

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The Covai Mail21m ago 1 min

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