Tenet Tax Daily October 23 2019
Reassessment notice quashed as it was issued by non-jurisdictional AO: HC
If block of assets ceases to exist on last date of previous year depreciation on goodwill not allowed: ITAT
Tenet Tax Daily October 22 2019
Merely relying on statement of person that he provided accommodation entry to assessee would not call for proceedings u/s 153C
Tenet Tax Daily October 21 2019
Demand stayed until disposal of condonation application with direction to deposit of 10% of tax demand: HC
Tenet Tax Daily October 19 2019
Assessee’s failure to respond to notices due to husband’s illness – matter to be remanded: HC
Tenet Tax Daily October 18 2019
CIT(A) does not have the power to enhance assessment by taking income not considered during assessment
Tenet Tax Daily October 17 2019
If salary is considered as part of operating cost, Forex cost mark-up was required while making salary payment to expat employee
Tenet Tax Daily October 16 2019
Accepting fresh evidence by CIT(A) without providing reasonable opportunity to AO not acceptable: ITAT
Tenet Tax Daily October 15 2019
If recipient cannot perform such services on its own, sum received for providing technical services not taxable as FTS
Tenet Tax Daily October 14 2019
Charging capital gains in hands of general power of attorney holder held as incorrect by ITAT
Tenet Tax Daily October 12 2019
If assessment was completed by AO, provisional attachment u/s 281B cannot continue.
Tenet Tax Daily October 11 2019
Employee’s contribution on account of PF/ESI deposited after prescribed due date – Not deductible: ITAT
Tenet Tax Daily October 10 2019
Tax deposited after coercive steps taken by department – No prosecution required: HC
Tenet Tax Daily October 09 2019
Payments made to foreign co. towards installation and repair work of wind turbine abroad taxable as FTS in India
Tenet Tax Daily October 08 2019
Rejection of application for absolute stay of demand held correct – deposit of 40% of demand justified: HC
Tenet Tax Daily October 07 2019
International transactions of payment of FTS to be benchmarked by applying TNMM as most appropriate method
Tenet Tax Daily October 05 2019
Capital expenditure to include expenses incurred on interior decoration & office equipment on leased premises
Tenet Tax Daily October 04 2019
Sum contributed to trusts created for health care of retired employees – No sec. 40A(9) disallowance
Tenet Tax Daily October 03 2019