Tenet Tax Daily May 11 2017
No sec. 41(1) deemed income when assessee writes off liability of vendor cos after outright purchase of business
POEM of Foreign Shipping Co. wasn’t in India as all important decisions were taken from Denmark
Tenet Tax Daily May 10 2017
Sec. 69A additions upheld as assessee failed to prove that bedroom from where cash was seized belonged to his sister
Tenet Tax Daily May 09 2017
Reassessment by CIT was justified if AO accepted claim of depreciation without proper examination
Tenet Tax Daily May 08 2017
Commission paid to agent for providing liasoning services relating to govt. tender was allowable business exp.
Tenet Tax Daily May 06 2017
AO can issue direction for special audit even if he doesn’t possess books of account: HC
Tenet Tax Daily May 05 2017
No denial of registration to trust as activities of children home register with juvenile law couldn’t be doubted
Tenet Tax Daily May 04 2017
Grant of scholarship to deserving students to pursue higher studies was charitable in nature: HC
Tenet Tax Daily May 03 2017
AO couldn’t make adjustments other than those which were proposed in draft assessment order: HC
Tenet Tax Daily May 02 2017
Foreign entity was to be taken as tested party when relevant data for its comparison was available in public domain
Tenet Tax Daily May 01 2017
No denial of sec. 10(23C) relief merely because society had provided medical treatment on subsidized basis
Tenet Tax Daily April 29 2017
No reassessment alleging TDS liability on sum paid to NR if AO failed to bring any tangible material
Tenet Tax Daily April 28 2017
Interest on FD on investing deposit received from leasing IT parks isn’t eligible for sec. 80-IAB relief
Tenet Tax Daily April 27 2017
No denial of sec. 10(37) exemption if compensation amount of agricultural land was settled after negotiation: SC
Tenet Tax Daily April 26 2017
Legal fee paid to protect and maintain right in a registered software was an allowable expenditure
Tenet Tax Daily April 25 2017
Section 54 does not stipulate purchase of new asset from sale proceeds of original capital asset only: ITAT
Tenet Tax Daily April 24 2017
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