tenet-tax-daily-october-27-2016
TP provisions aren’t applicable on transactions between Indian head office and foreign branch
High Court disallows travel exp. of wife who went with director on business tour
tenet-tax-daily-october-26-2016
Where AO erred in determining status of assessee, CIT(A) had jurisdiction to go into such issue: HC
tenet-tax-daily-october-24-2016
AO couldn’t reopen case merely on basis of opinion of audit party that there was discrepancy in turnover
tenet-tax-daily-october-22-2016
HC couldn’t remand matter to examine creditors when there was fraudulent practice of name lending: Apex Court
No deduction of forex loss on loans granted to AE as assessee failed to prove that it was utilized for business of AE
tenet-tax-daily-october-20-2016
Mere installation of turbine won’t lead to setting-up of new industrial unit for sec. 80-IA relief
tenet-tax-daily-october-19-2016
No penalty due to delay in filing TDS return as it was first year of introduction of e-TDS return
tenet-tax-daily-october-18-2016
Sum paid to brothers for vacating house held as cost of improvement of house
tenet-tax-daily-october-17-2016
No penalty due to delay in filing TDS return as it was first year of introduction of e-TDS return
tenet-tax-daily-october-17-2016
Income from sub-letting held as house property income as sub-letting wasn’t business activity of lessor
tenet-tax-daily-october-15-2016
No addition on basis of 26AS if payee claimed that there was wrong entry in TDS return: ITAT
tenet-tax-daily-october-14-2016
Assessee can change method of ascertaining cost of closing stock to weighted average method
tenet-tax-daily-october-13-2016
Sum paid for software without any right of utilizing copyright of said programme couldn’t be held as royalty
tenet-tax-daily-october-12-2016
Interim admission order couldn’t be challenged even if SetCom had considered small portion of concealed income
tenet-tax-daily-october-11-2016
ITAT has discretion to allow additional ground not raised before CIT(A) after giving hearing chance to other party
tenet-tax-daily-october-10-2016
Attachment order had be lifted when ITAT deleted all tax demand and revenue didn’t apply for stay
tenet-tax-daily-october-08-2016
ITAT criticized CIT (A) for accepting additional evidence without affording an opportunity to AO to rebut the same
tenet-tax-daily-october-07-2016