Tenet Tax Daily June 04 2018
Exp. incurred on acquiring licenses to use software which didn’t confer any enduring right was allowable exp.
Rejection of interest waiver application justified if tax payment was delayed by 14 yrs without genuine hardship
Tenet Tax Daily May 30 2018
Penalty proceedings couldn’t be initiated if assessment proceedings weren’t pending before AO
Tenet Tax Daily June 02 2018
No denial of sec. 35(2AB) relief just because co. didn’t submit approval of exp. incurred on R & D facility
Tenet Tax Daily June 01 2018
Tax mistakenly deposited couldn’t be retained by Govt. merely on ground that there was delay in claiming refund
Tenet Tax Daily May 31 2018
High salaries paid to doctors who were reputed professionals in their field couldn’t be held as excessive: ITAT
Tenet Tax Daily May 29 2018
Exp. incurred to upgrade computer software which brought efficiency in business was revenue in nature
Tenet Tax Daily May 28 2018
HC justified levy of concealment penalty as assessee had claimed dep. on non-existing assets
Tenet Tax Daily May 26 2018
Sale proceeds taxable as business income if assessee failed to prove that shares were kept as investments
Tenet Tax Daily May 25 2018
Purchase of assets for in-house R&D facility was eligible for sec. 35 deduction: ITAT
Tenet Tax Daily May 24 2018
HC dismissed ‘Vodafone’ petition as hearing opportunity was provided during cancellation of lower TDS certificate
Tenet Tax Daily May 22 2018
Income-tax could be levied only when real income would accrue to assessee: Kerala HC
Tenet Tax Daily May 21 2018
HC justified remanding of matter back to AO for fresh assessment on legal representative of deceased person
Tenet Tax Daily May 19 2018
Deduction of provision for bad debts couldn’t be disallowed by issuing sec. 143(1) intimation: HC
Tenet Tax Daily May 18 2018
HC dismissed writ as issue to be decided wasn’t pure question of law
Tenet Tax Daily May 15 2018
Penalty justified if assessee failed to prove that loan taken was in fact trade transaction
Tenet Tax Daily May 12 2018
Furnishing particulars of efforts made to recover tax from co. was mandatory while issuing notice to directors
Tenet Tax Daily May 11 2018
HC quashed demand order passed by Pr. CIT without considering genuine hardship of assessee
Tenet Tax Daily May 10 2018