Tenet Tax Daily December 24 2018
It isn’t mandatory for assessee to set off business loss against capital gains as per sec. 71
ITAT remanded matter relating to allowing exp. incurred on education of grandson of directors of co.
Tenet Tax Daily December 22 2018
Obligation to verify & submit ITR on behalf of co. does not lie on Managing Director only:HC
Tenet Tax Daily December 21 2018
No sec. 54B exemption if new agricultural land was purchased prior to sale of old agriculture land
Tenet Tax Daily December 20 2018
Discount granted by Tata Sky to distributor couldn’t be considered as commission under sec. 194H TDS
Tenet Tax Daily December 19 2018
Interest awarded under Land Acquisition Act forms part of compensation; not liable to tax
Tenet Tax Daily December 18 2018
No denial of exemption merely because sec. 54F has no specific mention of depreciable assets
Tenet Tax Daily December 15 2018
Disallowance u/s 40(a)(ia) not applicable if exp. wasn’t claimed as deduction while calculating taxable income
Tenet Tax Daily December 14 2018
Sec. 54F relief available on short-term capital gains arising on dep. assets held for more than 36 months
Tenet Tax Daily December 13 2018
Sum paid to ‘foreman’ who procured labours at short notice didn’t require sec. 194C TDS
Tenet Tax Daily December 12 2018
Failure to claim deduction in ITR wasn’t mistake apparent from record; rectification u/s. 154 couldn’t be invoked
Tenet Tax Daily December 10 2018
ITAT deleted penalty levied on ‘BCCI’ for delayed e-filing of TDS return due to technical glitches
Tenet Tax Daily December 08 2018
ITAT slams AO for levying sec. 234E fee before section came into existence
Tenet Tax Daily December 07 2018
Employee’s contribution deposited before due date of filing of ITR couldn’t be disallowed
Tenet Tax Daily December 06 2018
No reassessment on basis of mere change of opinion by AO that computation of book profit was incorrect
Tenet Tax Daily December 05 2018
Compounding fee to be computed on basis of tax sought to be evaded and not income sought to be evaded: HC
Tenet Tax Daily December 04 2018
Apex Court quashes HC’s Order on CA’s misconduct for his Acts not related to Professional Work
Tenet Tax Daily December 03 2018
HC justified sec. 69 additions relying on loose slips representing on-money payment made for purchase of property
Tenet Tax Daily December 01 2018