tenet-tax-daily-september-06-2016
Cost of acquisition of house couldn’t be reduced on basis of wealth tax return which AO had at assessment stage
It couldn’t be said that AO didn’t form his opinion just because he accepted claim without giving any reasons
tenet-tax-daily-september-05-2016
Both employees and employer contribution to PF covered under the ambit of sec. 43B
tenet-tax-daily-september-03-2016
Any income couldn’t be deemed to be taxable just because tax at source had been deducted on it
tenet-tax-daily-september-02-2016
Books of account couldn’t be rejected due to non-maintenance of day-to-day stock register
tenet-tax-daily-september-01-2016
Delay in claiming refund should be condoned when taxpayer had incurred huge losses over a period of time
tenet-tax-daily-august-31-2016
No involvement of perquisites just because employer was paying fixed monthly medical allowances
tenet-tax-daily-august-30-2016
Cash deposited by partner in saving account couldn’t be held as unexplained when it was cash sales of firm
tenet-tax-daily-august-29-2016
Income from providing personnel for drilling operations for mineral oil is taxable under sec. 44BB and not sec. 44DA
tenet-tax-daily-august-27-2016
Statement of senior partner couldn’t be retracted on pretext that he had no knowledge of business
tenet-tax-daily-august-26-2016
Receipt on settlement of dispute on use of trademark is tax free when trademark itself is cancelled
tenet-tax-daily-august-25-2016
Exp. incurred by Tamil Nadu Tourism Corporation to maintain ‘Thiruvalluvar Statue’ is revenue exp.
tenet-tax-daily-august-24-2016
Prepayment charges on home loans are deductible as ‘interest’ under Sec. 24(b): Mumbai ITAT
tenet-tax-daily-august-23-2016
Both employees and employer’s contribution covered under Sec. 43B: Patna HC
tenet-tax-daily-august-22-2016
Exp. on replacement of tools held as revenue exp. in accordance with provisions of AS-2 and AS-10
tenet-tax-daily-august-20-2016
No denial of Sec. 54F relief if taxpayer is unable to get possession of flat due to builder’s fault
tenet-tax-daily-august-19-2016
Penalty levied for excess claim of unabsorbed depreciation u/s 115JB; ITAT denies theory of carry backward of losses
tenet-tax-daily-august-18-2016