Tenet Tax Daily June 12 2015
CIT(A) gets flak from ITAT for holding that assessee didn’t have PE in India as per DTAA without giving reasons
Assessment in name of amalgamating co. was invalid as it ceased to exist after amalgamation
Tenet Tax Daily June 11 2015
Sum incurred towards leasehold improvements in a rented premise is a revenue exp.
Tenet Tax Daily June 10 2015
Inter-corporate deposits non-recoverable due to merger of entities allowable as bad debts
Tenet Tax Daily June 09 2015
Cash expense incurred by Actor in excess of Rs. 20,000 on travelling, costumes and makeup was allowable; High Court
Tenet Tax Daily June 08 2015
No TDS on sum paid to foreign agent for rendering services outside India if it didn’t have any PE in India
Tenet Tax Daily June 06 2015
DRP gets flak from ITAT for confirming additions made by TPO without considering submissions made by assessee
Tenet Tax Daily June 05 2015
Sum Received in lieu of relinquishment of right to sue ‘Coca-Cola’ was capital receipt: ITAT
Tenet Tax Daily June 04 2015
Supply of software along with hardware – rather software embedded in hardware did not amount to ‘royalty’
Tenet Tax Daily June 03 2015
No penalty on declaration of income pursuant to search if source of income was substantiated and tax was paid thereon
Tenet Tax Daily June 02 2015
A company failing parameter of employee cost to sales ratio couldn’t be chosen as comparable for TP study
Tenet Tax Daily June 01 2015
Depreciation available on machinery even if it is installed for trial run and not for production of goods
Tenet Tax Daily May 30 2015
Depreciation available on machinery even if it is installed for trial run and not for production of goods
Tenet Tax Daily May 30 2015
No disallowance if TDS is deposited before due date of filing return; amendment to sec. 40(a)(ia) has retro-effect
Tenet Tax Daily May 29 2015
Bank couldn’t defer deduction of tax and wait for lower TDS certificate from depositor; held as assessee-in-default
Tenet Tax Daily May 28 2015
Commission paid to NR agent for procurement of export orders outside India wasn’t taxable; not liable for TDS
Tenet Tax Daily May 27 2015