Tenet Tax Daily February 28 2018
Gain arising on sale of agricultural land as per revenue records couldn’t be brought to tax
Assessee rendering Fracturing Flow Services for extraction of mineral oil couldn’t be treated as FTS
Tenet Tax Daily February 27 2018
Inter-corporate deposits can’t be treated as deemed dividends: Bombay HC
Tenet Tax Daily February 26 2018
No perquisite in hands of director if he had no employer-employee relationship with company
Tenet Tax Daily February 24 2018
Assessee wasn’t liable to pay advance tax till matter was pending before AAR: Madras HC
Tenet Tax Daily February 23 2018
Wife of deceased person is legally bound to comply with notice issued by Income-tax dept.: HC
Tenet Tax Daily February 22 2018
Aadhaar Number is compulsory for filing ITR; Madras HC dismissed writ petition
Tenet Tax Daily February 21 2018
Rajasthan HC allowed sec. 54B exemption to husband even if agriculture land was purchased in name of wife
Tenet Tax Daily February 20 2018
Exp. on replacement of moulds & dies subject to heavy wear & tear was allowable as revenue expenditure
Tenet Tax Daily February 19 2018
Retail method could be used for valuation when actual cost of product couldn’t be ascertained
Tenet Tax Daily February 17 2018
HC justified reassessment as WDV of land shown in books of account was lesser than amount shown in ITR
Tenet Tax Daily February 16 2018
Failure to pass draft assessment order before passing final order would lead to withdrawal of demand proceedings
Tenet Tax Daily February 15 2018
Discount on shares issued under ESOP was allowable deduction under section 37(1): ITAT
Tenet Tax Daily February 14 2018
Sec. 68 additions made without verification of donors of gifts was unjustified; ITAT deleted additions
Tenet Tax Daily February 13 2018
Sale of shares of penny stock cos. at higher rate within yr held as attempt to hedge undisclosed income as LTCG: HC
Tenet Tax Daily February 12 2018
No waiver of sec. 234A/B/C interest if assessee disclosed income pursuant of search: HC
Tenet Tax Daily February 10 2018
Sum paid to co. providing support services to assessee’s rail equipment manufacturing activity liable to TDS u/s 194J
Tenet Tax Daily February 09 2018
No disallowance if Co. had interest free funds for making interest free investments in its subsidiary co.
Tenet Tax Daily February 08 2018