Tenet Tax Daily July 24 2015
Royalty wasn’t taxable at concessional rate under sec. 115A if it wasn’t received in pursuance of an agreement
Non-refundable membership fee has to be apportioned and taxed during period of membership, rules Gujarat High Court
Tenet Tax Daily July 23 2015
Brought forward losses are to be reduced from profits of current year before allowing sec. 10A deduction
Tenet Tax Daily July 22 2015
Non-availability of ads of medical relief camps provided by trust won’t lead to denial of its registration
Tenet Tax Daily July 21 2015
Cash deposits in saving bank account held a unexplained as assessee failed to prove source of deposits
Tenet Tax Daily July 20 2015
Rent receipt from spouse is taxable as income from house property and not as income from other sources
Tenet Tax Daily July 18 2015
Vending fee payable to Govt. which will be used to repair machinery is covered under sec. 43B
Tenet Tax Daily July 17 2015
Transaction of trading can’t be compared with transaction of selling goods on commission basis under TP study
Tenet Tax Daily July 16 2015
No reassessment to disallow sec. 10A relief if all material facts for claiming relief were disclosed in assessment
Tenet Tax Daily July 15 2015
Profit arising to a German Co. from high sea sale of equipment to Indian Customer isn’t taxable in India
Tenet Tax Daily July 14 2015
JV wasn’t taxable as AOP as it was only formed to secure contract and entire work was split up between JV partners
Tenet Tax Daily July 13 2015
Burden to prove that bank accounts revealed in search belonged to HUF of assessee’s father wasn’t on revenue
Tenet Tax Daily July 11 2015
Sum paid to check design/quality of Fire protection system wasn’t ‘FTS’ as it didn’t satisfy make available clause
Tenet Tax Daily July 10 2015
AO not to raise direct demand against an assessee wherein TDS credit mismatch arises due to default of deductor: CBDT
Tenet Tax Daily July 09 2015
Stringent action to be taken only in cases involving huge evasion of tax – CBDT’s clarification on Central Action Plan
Tenet Tax Daily July 08 2015
CBDT calls for speedy disposal of rectification applications
Tenet Tax Daily July 07 2015
ITAT rejects comparables as they were inappropriate due to diverse activities, brand value and economy of scales
Tenet Tax Daily July 06 2015