Tenet Tax Daily October 16 2018
Amendment to sec. 2(14) providing aerial distance for determining agricultural land has no retro-effect
AO couldn’t reject books of account just because there was fall in gross profit rate
Tenet Tax Daily October 15 2018
No concealment penalty if sec. 54 relief was disallowed on ground that property sold wasn’t residential
Tenet Tax Daily October 13 2018
Indian Co. couldn’t be treated as agent if its shares held by foreign co. were sold to another foreign Co.
Tenet Tax Daily October 12 2018
TDS u/s 194C was required if no technical consultancy was rendered while providing assembling services to BEL
Tenet Tax Daily October 11 2018
AO was justified in restricting provision for warranty as ‘Apple’ wasn’t evaluating it at year end
Tenet Tax Daily October 10 2018
Dept. couldn’t be said to be aggrieved if SetCom rejected assessee’s application
Tenet Tax Daily October 09 2018
Capital gains on sale of building along with land to be bifurcated if dep. was claimed on building
Tenet Tax Daily October 08 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