Tenet Tax Daily October 08 2018
Capital gains on sale of building along with land to be bifurcated if dep. was claimed on building
No FTS if no technical knowledge was made available by AE to assessee
Tenet Tax Daily October 06 2018
No TDS liability as sum paid by developer for delayed allotment of plot of land couldn’t be treated as interest
Tenet Tax Daily October 05 2018
HC upheld additions as assessee failed to prove that sum deposited in bank was from unutilized cash withdrawal
Tenet Tax Daily October 04 2018
ITAT allows farmer to lead evidence that agriculture produce was source of cash deposits in bank A/c
Tenet Tax Daily October 03 2018
Receipts from allotment of shares in settlement of pre-existing liability couldn’t be treated as unexplained credit
Tenet Tax Daily October 02 2018
ITAT confirmed reassessment as assessee didn’t object to jurisdiction of JCIT issuing notice within limitation period
Tenet Tax Daily October 01 2018
No TCS was required on amount collected by Zila Panchayat for issue of licence to collect ‘Tahbazari’
Tenet Tax Daily September 29 2018
Sec. 40(ba) couldn’t be invoked if payment made by AOP to its members was mere reimbursement of exp.
Tenet Tax Daily September 28 2018
Trademark eligible for dep. if it was used for sales & marketing of product: HC
Tenet Tax Daily September 27 2018
Property situated in USA occupied by daughter would be treated as deemed let out property & not self-occupied
Tenet Tax Daily September 26 2018
ITAT quashed AO’s order as ALP of royalty paid for use of brand couldn’t be determined as NIL
Tenet Tax Daily September 25 2018
AO couldn’t disallow part of expense if it was incurred wholly & exclusively for business purpose
Tenet Tax Daily September 24 2018
ITAT remanded matter back to CIT(A) as he passed ex parte order without considering assessee’s objection
Tenet Tax Daily September 22 2018
DRP has no power to condone assessee’s delay in filing of objection raised on draft assessment order: HC
Tenet Tax Daily September 21 2018
Re-assessment notice sanctioned by authority lower than Additional Commissioner was unsustainable: HC
Tenet Tax Daily September 20 2018
HC reduced pre-despite of tax demand to 7.5% as AO had made additions on dispute issue
Tenet Tax Daily September 19 2018
No additions without seeking additional evidence if evidence submitted by assessee was insufficient
Tenet Tax Daily September 18 2018