Tenet Tax Daily May 08 2014
No stay of demand by ITAT beyond 365 days after insertion of third proviso to sec. 254(2A)
AO couldn’t presume understatement of income merely on basis of report of DVO; HC quashed reassessment
Tenet Tax Daily May 07 2014
Non-resident couldn’t be penalized with sec. 234B interest if its whole income was subjected to withholding tax
Tenet Tax Daily May 06 2014
Income of NR agent for arranging NR Artists in India not taxable in status of ‘Entertainer’ under India-UK DTAA
Tenet Tax Daily May 05 2014
Sum paid to acquire rights of telecasting from outside India, in absence of its link with PE in India, wasn’t royalty
Tenet Tax Daily May 03 2014
Re-assessment notice was valid as accommodation entries to assessee were confirmed by a CA’s confession
Tenet Tax Daily May 02 2014
Registration denied to trust formed to impart education to children of Christian community only
Tenet Tax Daily May 01 2014
Payment for software licensed to foreign HO and used by Indian branch with non-exclusive rights isn’t ‘royalty’
Tenet Tax Daily April 29 2014
ITAT stayed recovery of tax as assessee had made a strong case against TP adjustment
Tenet Tax Daily April 28 2014
Reassessment quashed as AO couldn’t suddenly treat profit from share dealing as business income and not cap. Gains.
Tenet Tax Daily April 26 2014
HC lays criteria to identify AOP;relies on ratio of ‘Ishikawajima-Harima’ for taxability of offshore supplies
Tenet Tax Daily April 25 2014
Presumptive taxation under sec. 44DA couldn’t invoked if services were squarely covered by sec. 44BB
Tenet Tax Daily April 24 2014
Delhi I-T Authority has jurisdiction over assessee residing and maintaining bank account in Delhi
Tenet Tax Daily April 23 2014
Concealment penalty couldn’t be imposed merely because ITAT confirmed quantum of additions made by AO
Tenet Tax Daily April 22 2014
When applying CUP method international transaction can be compared with actual transaction and not with mere ‘quotation’
Tenet Tax Daily April 21 2014
HC allowed wastage claimed by assessee as no doubt was casted on entries in stock register maintained by assessee
Tenet Tax Daily April 19 2014
Forward contracts to hedge against forex losses from import or export of diamonds by jeweller aren’t speculative
Tenet Tax Daily April 18 2014
Tax dues couldn’t be recovered from director if AO didn’t make any efforts to recover it from company
Tenet Tax Daily April 17 2014