Tenet Tax Daily April 24 2017
Section 54 does not stipulate purchase of new asset from sale proceeds of original capital asset only: ITAT
Payment made for grant of access to software without its copyright can’t be held as royalty
Tenet Tax Daily April 22 2017
‘Jetty’ using conveyor belt to load iron core to vessels is temporary structure; entitled to 100% depreciation
Tenet Tax Daily April 20 2017
Due to failure to substantiate monetary ability of brother to make substantial gift, sec. 68 additions upheld
Tenet Tax Daily April 21 2017
No Sec. 195 TDS on payment under Secondment when it was taxed in India as salary: ITAT
Tenet Tax Daily April 19 2017
Fresh claim not made in original return can be raised before Tribunal for first time: HC
Tenet Tax Daily April 18 2017
No disallowance u/s 40A(2) on basis that a professional couldn’t perform multiple tasks for more than one concern
Tenet Tax Daily April 17 2017
Disallowance on basis of activity of a person engaged on a different business model wasn’t justified: ITAT
Tenet Tax Daily April 15 2017
No denial of sec. 10(23C) relief to school just because its governing body have object of Vedic teachings
Tenet Tax Daily April 14 2017
Share application money written back in books of account cannot be treated as income, ITAT followed HC ruling
Tenet Tax Daily April 13 2017
No concealment penalty if assessee duly paid tax after realizing that travelling expense was untenable: HC
Tenet Tax Daily April 12 2017
AO was justified in rejecting books of account if assessee failed to produce books during scrutiny assessment
Tenet Tax Daily April 11 2017
Unabsorbed depreciation of earlier years to be allowed as deduction while computing book profits: HC
Tenet Tax Daily April 10 2017
AO couldn’t hold that repayment of loan to trustee was in violation of sec. 11 without bringing any relevant facts
Tenet Tax Daily April 08 2017
Order for direction for special audit was not to be quashed as interest of revenue wasn’t mentioned
Tenet Tax Daily April 07 2017
Fine for traffic violation isn’t deductible as business expenditure: Kolkata ITAT
Tenet Tax Daily April 06 2017
In case of old windmill purchased at higher cost to claim excessive depreciation, actual cost was to be reduced
Tenet Tax Daily April 05 2017
Mere signing of ‘Sauda Chitthi’ wouldn’t prove that assessee had received consideration from sale of land: HC
Tenet Tax Daily April 04 2017