Tenet Tax Daily March 12 2018
Rectification application shall be governed by law of limitation as applicable on date of passing ITAT order
Assessee wasn’t entitled to claim sec. 54F relief if agreement to sell property wasn’t executed by buyer
Tenet Tax Daily March 10 2018
Dep. not to be denied in hands of amalgated co. even if assets transferred in amalgamation were non-functional
Tenet Tax Daily March 09 2018
SetCom has power to reject application at submission stage if disclosure by assessee isn’t full & true: Madras HC
Tenet Tax Daily March 08 2018
Internal TNMM for determining ALP couldn’t be rejected merely because size of uncontrolled transactions was small
Tenet Tax Daily March 07 2018
ITAT allowed Rs. 1 crore relief claimed u/s 54EC as assessee invested Rs. 50 lakh each in 2 diff. FY
Tenet Tax Daily March 05 2018
Sum paid by co. to protect its business interest was allowable business exp.: Mumbai ITAT
Tenet Tax Daily March 06 2018
Commission paid by assessee to various agents in order to secure orders from other countries and to ensure payment is to be allowed under section 37(1)
Tenet Tax Daily March 03 2018
Provision written off to be considered as part of operating income for TP purpose
Tenet Tax Daily March 02 2018
Payment by “Reliance” for outright purchase of billing software was not “royalty”: Mumbai ITAT
Tenet Tax Daily March 01 2018
Gain arising on sale of agricultural land as per revenue records couldn’t be brought to tax
Tenet Tax Daily February 28 2018
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