Tenet Tax Daily January 31 2015
No TDS credit available if assessee had failed to offer corresponding income to tax in relevant year
Wheeling charges paid for transmission of electricity would attract TDS under sec. 194C instead of sec. 194J
Tenet Tax Daily January 28 2015
Brokerage paid to mobilize public deposit was revenue exp. if interest was payable on it and deposit had fixed term
Tenet Tax Daily January 29 2015
Mere mentioning of country’s name and detail of expenses does not indicate purpose of foreign travel; disallowable
Tenet Tax Daily January 30 2015
“Umbrella” of combined entity level TNMM can’t be used to benchmark separate transactions on combined basis
Tenet Tax Daily January 27 2015
ITAT invokes MFN clause to import make available clause from India-Portugese DTAA into the India-Sweden DTAA
Tenet Tax Daily January 26 2015
Manufacturer of printer’s toners couldn’t be a comparable for co. engaged in manufacturing of printing inks
Tenet Tax Daily January 24 2015
Payment made to put-up hoarding is an advertisement contract; attracts TDS under sec. 194C
Tenet Tax Daily January 21 2015
Income from growing of mushrooms in residential area under controlled conditions isn’t agricultural income
Tenet Tax Daily January 20 2015
Sum paid for obtaining permanent right to use design engineering services won’t fall within the purview of royalty
Tenet Tax Daily January 19 2015
Compensation awarded under Motor Vehicle Act and interest accrued thereon in bank weren’t taxable
Tenet Tax Daily January 17 2015
Forex loss couldn’t be considered while computing ALP of purchases if sale/purchase wasn’t at pre-determined rates
Tenet Tax Daily January 16 2015
Share application money paid to AE couldn’t be held as international transaction by deeming it as lending/borrowing
Tenet Tax Daily January 15 2015
HC sets aside ruling of AAR treating damages received by shareholder of ADR on alleged fraud as taxable receipts
Tenet Tax Daily January 14 2015
Income earned by foreign co. was business profit and it wouldn’t be taxable as foreign co. had no PE in India: HC
Tenet Tax Daily January 13 2015
Sum received for five-year maintenance contract of equipments couldn’t be taxed in one assessment year
Tenet Tax Daily January 12 2015
No penalty if TDS default committed by partner on payments to firm due to bona-fide belief of non-deduction of tax
Tenet Tax Daily January 10 2015
Additions upheld for cash credits as identity and creditworthiness of share applicants were doubtful
Tenet Tax Daily January 09 2015