Tenet Tax Daily February 07 2018
Hospital isn’t an ‘Industrial Undertaking’ for purpose of carry forward of unabsorbed dep. in case of amalgamation
ITAT remanded matter as TPO adopted TNMM method without identifying relevant comparables
Tenet Tax Daily February 06 2018
No reassessment after 4 years when assessee had already disclosed details of investment & exp. at assessment stage
Tenet Tax Daily February 05 2018
Depreciation on machinery was to be allowed even if it was used only for trial production: Bombay HC
Tenet Tax Daily February 03 2018
Furniture & equipment on leased business premises were entitled to 100% dep: Madras HC
Tenet Tax Daily February 02 2018
HC granted waiver of sec. 234A interest as there was bona fide dispute to tax income in assessee’s hands
Tenet Tax Daily February 01 2018
HC justified deletion of additions as cost of jewellery found in search was disclosed income of assessee’s wife
Tenet Tax Daily January 31 2018
Order by SetCom was conclusive in nature & couldn’t be reopened in any proceedings under any law
Tenet Tax Daily January 30 2018
Reassessment order passed without waiting for assessee to submit asked documents was unjustified: HC
Tenet Tax Daily January 29 2018
Transactions carried out in violation of sec. 269SS aren’t void; loan advanced is fully recoverable: HC
Tenet Tax Daily January 27 2018
ITAT remanded matter to determine taxability of freight income earned by Singaporean co. in India
Tenet Tax Daily January 26 2018
SAP charges paid to AE for use of licensed software on intranet were taxable as royalty: Delhi ITAT
Tenet Tax Daily January 25 2018
Sum paid for obtaining approval from diff. authorities to purchase business unit of a co. was capital in nature
Tenet Tax Daily January 24 2018
Delhi ITAT granted stay of penalty proceeding against ‘Oracle’ during pendency of appeal
Tenet Tax Daily January 23 2018
No refusal of interest waiver application just because Co. challenged notice issued by dept. attaching Bank a/c
Tenet Tax Daily January 22 2018
Mumbai ITAT allowed deduction of legal expenses incurred to safeguard business interest
Tenet Tax Daily January 20 2018
Sum paid by ‘UTV’ to cable operators for airing of channels on agreed frequencies was liable to sec. 194C TDS
Tenet Tax Daily January 19 2018
Penalty u/s 271AAB on undisclosed income is automatic in nature: Kolkata ITAT
Tenet Tax Daily January 18 2018