Tenet Tax Daily May 09 2018
Penalty couldn’t be levied just because legal representative failed to explain source of investment of assessee
Loss due to vacancy allowable even if property remained vacant during previous year: ITAT
Tenet Tax Daily May 07 2018
Stay application filed before CIT(A) stood disposed of once hearing on appeal was concluded
Tenet Tax Daily May 04 2018
Domain registration fee received by ‘GoDaddy’ is taxable as royalty in India: Delhi ITAT
Tenet Tax Daily May 03 2018
Installation of set-top box by ISPs amounts to works contract; liable to section 194C TDS & not sec. 194J TDS
Tenet Tax Daily May 01 2018
Income on sale of shares to be treated as business income as assessee had regularly dealing in its sale & purchase
Tenet Tax Daily April 30 2018
Advt. exp. couldn’t be disallowed just because hoardings were placed at place where co. had no selling outlets
Tenet Tax Daily April 28 2018
Sec. 44BB being specific provision would prevail over provisions dealing with royalty/FTS: Delhi ITAT
Tenet Tax Daily April 27 2018
No withholding taxes from freight paid to foreign shipping co. which was assessed under sec. 172
Tenet Tax Daily April 26 2018
Sec. 194J TDS on provision made for audit fees was required even if payment to be made was uncertain
Tenet Tax Daily April 25 2018
Delay of 318 days in filing appeal couldn’t be condoned without furnishing sufficient reasons: HC
Tenet Tax Daily April 24 2018
AO couldn’t deny set off of unabsorbed dep. and brought forward business loss against income from other sources
Tenet Tax Daily April 23 2018
No reassessment after 4 year merely on ground of non-deduction of TDS if all material facts were disclosed
Tenet Tax Daily April 21 2018
Statement furnished during appellate proceedings to justify diff. in Form 26AS & ITR can be admitted by CIT(A)
Tenet Tax Daily April 20 2018
Payment made to foreign co. for outright purchase of copyrights & technical know-how couldn’t be taxed as royalty
Tenet Tax Daily April 19 2018
No exemption if agricultural land inherited from father was sold after converting it into residential plots
Tenet Tax Daily April 18 2018
Rental income taxable as business income if assessee has shut down its main business activity
Tenet Tax Daily April 17 2018
HC set-aside sec. 271(1)(c) notice issued after expiry of prescribed limitation period
Tenet Tax Daily April 16 2018