Tenet Tax Daily March 23 2018
No reassessment on basis of mere change of opinion by AO to disallow carry forward of deficit of trust
FBT not to be added back in book profit for computation of MAT: ITAT
Tenet Tax Daily March 22 2018
Yearly commission paid by Co. to its agents not doubted by revenue was to be allowed as deduction: Delhi HC
Tenet Tax Daily March 21 2018
HC allowed provision made for interest on overdue deposits as liabilities crystallized in current yr
Tenet Tax Daily March 20 2018
Provisions of Sec. 194C couldn’t be triggered in absence of any contract to get work done
Tenet Tax Daily March 19 2018
No DTAA benefit to Mauritian Co. on Cap gains if it had merely lent its name for making investments
Tenet Tax Daily March 16 2018
Disallowance made erroneously in ITR owing to non-deduction of TDS could be raised before ITAT for first time
Tenet Tax Daily March 15 2018
No sec. 35 deduction if separate books of a/c weren’t maintained for research & development activities
Tenet Tax Daily March 14 2018
No Sec. 194H TDS on cash discount given to customers for purchasing goods in bulk
Tenet Tax Daily March 13 2018
Rectification application shall be governed by law of limitation as applicable on date of passing ITAT order
Tenet Tax Daily March 12 2018
Assessee wasn’t entitled to claim sec. 54F relief if agreement to sell property wasn’t executed by buyer
Tenet Tax Daily March 10 2018
Dep. not to be denied in hands of amalgated co. even if assets transferred in amalgamation were non-functional
Tenet Tax Daily March 09 2018
SetCom has power to reject application at submission stage if disclosure by assessee isn’t full & true: Madras HC
Tenet Tax Daily March 08 2018
ITAT allowed Rs. 1 crore relief claimed u/s 54EC as assessee invested Rs. 50 lakh each in 2 diff. FY
Tenet Tax Daily March 05 2018
Sum paid by co. to protect its business interest was allowable business exp.: Mumbai ITAT
Tenet Tax Daily March 06 2018
Commission paid by assessee to various agents in order to secure orders from other countries and to ensure payment is to be allowed under section 37(1)
Tenet Tax Daily March 03 2018
Provision written off to be considered as part of operating income for TP purpose
Tenet Tax Daily March 02 2018
Payment by “Reliance” for outright purchase of billing software was not “royalty”: Mumbai ITAT
Tenet Tax Daily March 01 2018