The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to Toyota Kirloskar Motor on transfer pricing adjustment relating to royalty payments made to Toyota Motor Corporation, Japan, and Toyota Motor Asia Pacific, Singapore. However, in a verdict last month, the appellate body dis- missed Toyota Kirloskar’s appeal against the payment of dividend distribution tax (DDT) using the[Read More…]
The 60th SIAM annual Convention against the backdrop of Covid made for some very interesting insights. Story by Deepti Thore and Deven Lad Accounting for almost 7.1 per cent of India’s GDP and providing direct and indirect employment to about 37 million people, the Indian auto industry has been battling some unprecedented challenges for some time now. Witnessing the steepest[Read More…]
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