Tenet Tax Daily November 30 2015
Failure to issue notice in time can’t be cured by resorting to deeming fiction of sec. 292BB; reassessment held void
AO couldn’t pass attachment order if assessee had filed appeal against such order alongwith stay application
Tenet Tax Daily November 28 2015
Sum received by Irish Co. for providing online access to its e-learning products in India is taxable as royalty
Tenet Tax Daily November 27 2015
Sum paid to clear mortgage can’t be held as exp. incurred in connection with transfer under sec. 48
Tenet Tax Daily November 26 2015
Advance received by lawyers on legal matters can’t be treated as income till completion of case
Tenet Tax Daily November 25 2015
Excess money refunded on cancellation of booking of flats couldn’t be held as interest for purpose of sec. 194A TDS
Tenet Tax Daily November 24 2015
No TP adjustment on pretext of outstanding receivables when working capital adjustment is already made
Tenet Tax Daily November 23 2015
Non-compete fee wasn’t taxable prior to AY 2002-03
Tenet Tax Daily November 21 2015
Appeal filed before ITAT to be restored when proceedings before SetCom is abated
Tenet Tax Daily November 19 2015
No concealment penalty even if assessee had followed different system of accounting for particular exp. and income
Tenet Tax Daily November 18 2015
Delhi HC examines test of “related party” for deciding maintainability of application before SetCom
Tenet Tax Daily November 17 2015
Reassessment made to tax royalty by invoking ‘Force of Attraction Rule’ quashed by Delhi HC
Tenet Tax Daily November 16 2015
ITAT apportions exp. on living Germplasm and technical know-how between capital and revenue exp.
Tenet Tax Daily November 14 2015
Rent not to be held as benefit/perquisite just because spouse had substantial interest in lessee-Co.
Tenet Tax Daily November 13 2015
Default period of assessee-in-default shall be counted as per British Calendar month
Tenet Tax Daily November 12 2015
Corporate guarantee given to AE by charging 0.5% as service fee doesn’t call for TP adjustment
Tenet Tax Daily November 11 2015
Freight to C&F agent wasn’t reimbursement and liable to TDS as agent didn’t made TDS while making payment to Airlines
Tenet Tax Daily November 10 2015
Commission paid to NR for advising on product trend in USA isn’t taxable as services were rendered outside India
Tenet Tax Daily November 09 2015