Tenet Tax Daily January 01 2019
Income tax department cannot claim any priority in payment from liquidated estate under IBC
Gain arising on sale of ESOP issued by erstwhile employer not taxable as perquisite: ITAT
Tenet Tax Daily December 31 2018
Provision of sec. 43B couldn’t be invoked with regards to duty & surcharge collected by state electricity board
Tenet Tax Daily December 29 2018
Disallowance of indexed cost of improvement was justified if assessee failed to prove quantum of exp. incurred
Tenet Tax Daily December 28 2018
ITAT deleted additions as amount deposited in assessee’s Foreign Bank a/c didn’t belong to him
Tenet Tax Daily December 27 2018
Loss from derivative is a normal business loss and not speculation loss
Tenet Tax Daily December 26 2018
Karta was eligible to claim TDS credit wrongly deposited in his name if HUF hadn’t availed benefit of such TDS
Tenet Tax Daily December 25 2018
It isn’t mandatory for assessee to set off business loss against capital gains as per sec. 71
Tenet Tax Daily December 24 2018
ITAT remanded matter relating to allowing exp. incurred on education of grandson of directors of co.
Tenet Tax Daily December 22 2018
Obligation to verify & submit ITR on behalf of co. does not lie on Managing Director only:HC
Tenet Tax Daily December 21 2018
No sec. 54B exemption if new agricultural land was purchased prior to sale of old agriculture land
Tenet Tax Daily December 20 2018
Discount granted by Tata Sky to distributor couldn’t be considered as commission under sec. 194H TDS
Tenet Tax Daily December 19 2018
Interest awarded under Land Acquisition Act forms part of compensation; not liable to tax
Tenet Tax Daily December 18 2018
No service PE if employee of Singaporean company had visited India for a period of only 2 days
Tenet Tax Daily December 17 2018
No denial of exemption merely because sec. 54F has no specific mention of depreciable assets
Tenet Tax Daily December 15 2018
Disallowance u/s 40(a)(ia) not applicable if exp. wasn’t claimed as deduction while calculating taxable income
Tenet Tax Daily December 14 2018
Sec. 54F relief available on short-term capital gains arising on dep. assets held for more than 36 months
Tenet Tax Daily December 13 2018
Sum paid to ‘foreman’ who procured labours at short notice didn’t require sec. 194C TDS
Tenet Tax Daily December 12 2018