Tenet Tax Daily June 02 2014
No withholding taxes from commission paid to NR agents for their services rendered outside India
No reassessment to tax slump sale as ITAT upheld that transfer of undertaking in lieu of shares wasn’t slump sale
Tenet Tax Daily May 30 2014
Sum paid to foreign co. for production of 2D and 3D animated films wasn’t fees for technical service
Tenet Tax Daily May 29 2014
Entitlement to sec. 54F relief remains intact even if a residential house is used commercially
Tenet Tax Daily May 28 2014
Before conclusion of assessment, assessee couldn’t insist on recovery of tax from proceeds of his seized assets
Tenet Tax Daily May 27 2014
For MAT Computations P&L account to be prepared as per Schedule VI of Companies Act if business has commenced
Tenet Tax Daily May 24 2014
No remand order as CIT(A) had analyzed all clauses of India-UK DTAA to hold that sums couldn’t be taxed as royalty
Tenet Tax Daily May 22 2014
Rent from letting out of flat with amenities was income from house property in absence of any business activity
Tenet Tax Daily May 21 2014
ITAT upheld concealment penalty on foreign co. as its liaison office was engaged in commercial activities
Tenet Tax Daily May 20 2014
ITAT deleted concealment penalty as retro-amendment merely transformed a valid expense into disallowable one
Tenet Tax Daily May 19 2014
Period of limitation to seek rectification under sec. 254 to be counted from date of actual receipt of order
Tenet Tax Daily May 17 2014
HC sets aside reassessment order as it was passed by AO in haste without considering objections of assessee
Tenet Tax Daily May 16 2014
Participation in assessment proceedings ratified jurisdictional issue; block assessment held valid
Tenet Tax Daily May 15 2014
Sum received by Warner Bros. for distribution of films in India isn’t ‘royalty’; ITAT follows previous decision
Tenet Tax Daily May 14 2014
Sudden payment of commission to an employee for his routine work wasn’t justifiable; HC confirms disallowance
Tenet Tax Daily May 13 2014
Assessee can’t either seek withdrawal of appeal or file revision petition when appeal was pending before CIT(A)
Tenet Tax Daily May 12 2014