Tenet Tax Daily July 20 2017
No business profits arose on sale of property just because property development objective was given in MOA of Co.
Penalty for delay in filing of TDS return couldn’t be levied if there was difficulty in obtaining PANs of deductees
Tenet Tax Daily July 19 2017
Income-tax Act doesn’t have any provision to condone delay in filing rectification application: Bangalore ITAT
Tenet Tax Daily July 18 2017
HC quashed reassessment as it was made without issuing notice under section 143(2)
Tenet Tax Daily July 17 2017
CIT was justified in penalty order if disallowance relating to ‘head office exp.’ was set-aside by ITAT
Tenet Tax Daily July 15 2017
AO couldn’t reject books of account if assessee proved that profits decreased due to increase in cost of materials
Tenet Tax Daily July 14 2017
No reassessment could be made on basis of an issue which was duly answered in favour of assessee by ITAT
Tenet Tax Daily July 13 2017
ITAT remanded matter to determine whether AMP exp. incurred for brand promotion was international transaction
Tenet Tax Daily July 12 2017
Transfer of only specific ‘assets and liabilities’ in lieu of consideration couldn’t be held as demerger
Tenet Tax Daily July 11 2017
Tax dept. couldn’t ignore ruling of Jurisdictional HC just because it had filed SLP on same issue
Tenet Tax Daily July 10 2017
ITAT deleted AMP exp. adjustments as no benefit had accrued to AE on sale of India specified product in India only
Tenet Tax Daily July 08 2017
Order rejecting SetCom application couldn’t be interfered with if declared income didn’t belong to assessee: HC
Tenet Tax Daily July 07 2017
Permanent cessation of agricultural operation would convert agricultural land into non-agricultural land: ITAT
Tenet Tax Daily July 06 2017
Leasing income from ready to move office in Gurgaon to Agilent held as business income
Tenet Tax Daily July 05 2017
Declaring an income admitted during search saves assessee from section 271AAA penalty: ITAT
Tenet Tax Daily July 04 2017
Period of existence of two unrelated projects by Foreign Co. couldn’t be combined to determine its PE in India
Tenet Tax Daily July 03 2017
Co. rendering technical service is incomparable with assessee providing ITES Lionbridge
Tenet Tax Daily July 01 2017