Tenet Tax Daily November 17 2017
Assessee was entitled to tax credits for both State as well as Federal taxes paid outside India: ITAT
No denial of sec. 80G approval once sec. 12AA registration granted to assessee: ITAT
Tenet Tax Daily November 16 2017
No withholding tax on commission paid to foreign agents if services were rendered abroad
Tenet Tax Daily November 15 2017
No penalty if wife offered due tax during assessment on sum received being beneficiary of her deceased husband: HC
Tenet Tax Daily November 13 2017
Firm was eligible to claim exp. if it was disallowed in hands of partner claiming having incurred on behalf of firm
Tenet Tax Daily November 11 2017
Sum paid towards transmission charges for electricity won’t attract TDS provision: HC
Tenet Tax Daily November 10 2017
Exp. debited in P&L a/c showing regular increase was proof that assessee was carrying out business activity
Tenet Tax Daily November 09 2017
Allowability of exp. incurred on R&D facilities being debatable issue was outside purview of sec. 154
Tenet Tax Daily November 08 2017
No sec. 194J TDS on reimbursement of exp. to HRTC for carrying out development work on behalf of assessee
Tenet Tax Daily November 07 2017
Payment of AMC of medical equipments in hospital are liable to sec. 194C TDS and not sec. 194J TDS
Tenet Tax Daily November 06 2017
ITAT affirms sanctity of CA certificate; no disallowance for TDS default relying upon such certificate
Tenet Tax Daily November 04 2017
HC dismissed writ filed against sec. 263 notice due to existence of alternate remedy
Tenet Tax Daily November 03 2017
Gross profit rate couldn’t be computed with reference to returns of subsequent years: HC
Tenet Tax Daily November 02 2017
No sec. 35 deduction if assessee failed to prove that exp. incurred on scientific research was for own business
Tenet Tax Daily November 01 2017
Free air travels & hotel stay expenses to doctors for prescribing medicines of pharma-co. aren’t deductible u/s 37
Tenet Tax Daily October 31 2017
No reassessment merely on information supplied by Investigation Wing if all facts were disclosed at original assessment
Tenet Tax Daily October 30 2017
No concealment penalty if partner had bona fide belief that firm had invested his capital gains in new property
Tenet Tax Daily October 28 2017
Ignorance of compliance provision couldn’t be said to be reasonable cause to delete penalty: ITAT
Tenet Tax Daily October 27 2017