Tenet Tax Daily June 08 2018
Pendency of appeal against application seeking sec. 11 relief won’t vitiate reassessment notice of earlier years
Reassessment order couldn’t be termed as void even if requisite SC directions not complied with: Madras HC
Tenet Tax Daily June 07 2018
No denial of set-off of losses if holding co. transferred its shareholding of assessee-co. to another subsidiary co.
Tenet Tax Daily June 06 2018
Exemption on sale of agricultural land rightly denied as sale deed suggested that it was residential land: ITAT
Tenet Tax Daily June 05 2018
Exp. incurred on acquiring licenses to use software which didn’t confer any enduring right was allowable exp.
Tenet Tax Daily June 04 2018
Rejection of interest waiver application justified if tax payment was delayed by 14 yrs without genuine hardship
Tenet Tax Daily May 30 2018
Penalty proceedings couldn’t be initiated if assessment proceedings weren’t pending before AO
Tenet Tax Daily June 02 2018
No denial of sec. 35(2AB) relief just because co. didn’t submit approval of exp. incurred on R & D facility
Tenet Tax Daily June 01 2018
Tax mistakenly deposited couldn’t be retained by Govt. merely on ground that there was delay in claiming refund
Tenet Tax Daily May 31 2018
High salaries paid to doctors who were reputed professionals in their field couldn’t be held as excessive: ITAT
Tenet Tax Daily May 29 2018
Exp. incurred to upgrade computer software which brought efficiency in business was revenue in nature
Tenet Tax Daily May 28 2018
HC justified levy of concealment penalty as assessee had claimed dep. on non-existing assets
Tenet Tax Daily May 26 2018
Sale proceeds taxable as business income if assessee failed to prove that shares were kept as investments
Tenet Tax Daily May 25 2018
Purchase of assets for in-house R&D facility was eligible for sec. 35 deduction: ITAT
Tenet Tax Daily May 24 2018
Delegation of responsibility by Head Office to Project Office to be considered as international transaction
Tenet Tax Daily May 23 2018
HC dismissed ‘Vodafone’ petition as hearing opportunity was provided during cancellation of lower TDS certificate
Tenet Tax Daily May 22 2018
Income-tax could be levied only when real income would accrue to assessee: Kerala HC
Tenet Tax Daily May 21 2018