Tenet Tax Daily February 26 2014
HC – Expenditure incurred on setting-up V-Sat facility is revenue expenditure
Gifts spotted during search won’t constitute undisclosed income if they were already shown by assessee in return
Tenet Tax Daily February 27 2014
Gifts from NRI unrelated to assessee and without an occasion held as as unexplained
Tenet Tax Daily February 25 2014
Sum paid for transmission of electricity along with maintenance of meters won’t be FTS – sec. 194C attracted
Tenet Tax Daily February 24 2014
Rent from letting out of unused business premises is ‘income from house property’ and not business receipt
Tenet Tax Daily February 22 2014
Date of service of notice is date of its actual receipt by assessee
Tenet Tax Daily February 21 2014
No bar on advance ruling on filing return, issue deemed as pending only if scrutiny notice issued raises same question
Tenet Tax Daily February 20 2014
ITAT won’t deal with issues not raised before it
Tenet Tax Daily February 19 2014
Salary income can’t be deemed to have accrued in India merely if appointment letter has been issued in India
Tenet Tax Daily February 18 2014
Assessee couldn’t challenge ITAT’s order which was decided on basis of case cited by assessee only
Tenet Tax Daily February 15 2014
Artificial segregation for lounging and catering not permissible; sec. 194C attracted
Tenet Tax Daily February 14 2014
SC sets aside HC’s judgment as it was passed without pointing out error of law in ITAT’s order
Tenet Tax Daily February 13 2014
Investment of sales consideration provides sec. 54F relief even if construction isn’t completed within 3 years
Tenet Tax Daily February 12 2014
Any device usable in integration with computer comes within expression ‘Computer’
Tenet Tax Daily February 11 2014
Exp. on application software isn’t revenue exp. even if it has very short shelf life and is prone to obsolescence
Tenet Tax Daily February 10 2014
Assessee was not to be given opportunity of being heard by CIT while granting approval for block assessment
Tenet Tax Daily February 08 2014
Exp. on scientific research useful for public at large is allowable even if it enures benefit to third party
Tenet Tax Daily February 07 2014
Tax to be deducted under sec. 194C if cargo handling service was labour oriented with assistance of machines
Tenet Tax Daily February 05 2014