Tenet Tax Daily June 22 2017
Loss incurred under forward exchange contracts was allowable business exp. as it wasn’t a speculative loss
Reimbursement of travel exp. to NR for its employee deputed in India providing technical assistance wasn’t ‘FTS’
Tenet Tax Daily June 20 2017
Appeal before CIT was to be admitted on basis of original return if revised return wasn’t a valid return
Tenet Tax Daily June 19 2017
Limitation of relief clause can’t be invoked to deny exemption on sale of debt instrument by Singaporean Co.
Tenet Tax Daily June 17 2017
Payment for software license for internal use without any permit to alter it can’t be held as royalty: ITAT
Tenet Tax Daily June 16 2017
Payment made for package of designs and drawings couldn’t be treated as royalty
Tenet Tax Daily June 15 2017
Payment made to UK based company for consultancy charges for rendering designing services rightly treated as ‘FTS’
Tenet Tax Daily June 14 2017
No sec. 263 revision on ground that AO allowed CSR exp. without mentioning about it in assessment order
Tenet Tax Daily June 13 2017
Provident fund established under scheme framed under EPF Act does not require commissioners approval: ITAT
Tenet Tax Daily June 12 2017
ITAT denied ‘Pass through’ status to trust as its beneficiaries were unknown
Tenet Tax Daily June 10 2017
No reassessment after 4 years to treat slump sale otherwise if assessee had disclosed all facts during assessment
Tenet Tax Daily June 09 2017
Income couldn’t be said to have escaped if ledger found during search was already examined in regular assessment
Tenet Tax Daily June 08 2017
ITAT remanded matter as assessee claimed that suo moto disallowance made u/s 14A was due to mistake
Tenet Tax Daily June 07 2017
Margin of a company having closing year other than of assessee not to be treated as comparable
Tenet Tax Daily June 06 2017
ITAT allowed deduction of warranty on actual as well as provisional basis as same wasn’t case of double deduction
Tenet Tax Daily June 05 2017
Brokerage, legal expenses and bank charges are not deductible while calculating annual rental value of property
Tenet Tax Daily June 03 2017
ITAT remanded matter back to AO as assessee failed to submit evidence for delay in submission of TDS statement
Tenet Tax Daily June 02 2017