Tenet Tax Daily September 18 2018
No additions without seeking additional evidence if evidence submitted by assessee was insufficient
ITAT justified admission of fresh evidences as assessee was unaware of assessment proceedings
Tenet Tax Daily September 17 2018
Insurance premiums paid for family members of employee’s deductible if those were paid as per service agreement
Tenet Tax Daily September 15 2018
Residency certificate was sufficient evidence for accepting residential status as per India-Mauritius Tax treaty
Tenet Tax Daily September 14 2018
ITAT remanded matter as assessee failed to produce evidence regarding reimbursement of actual exp.
Tenet Tax Daily September 13 2018
Taxability of ESOP in hands of employee’s arises on date of allotment & not on date of exercise of option
Tenet Tax Daily September 12 2018
Liaison Office couldn’t be treated as PE of foreign Co. if it didn’t finalize & transact a business deal on its own
Tenet Tax Daily September 11 2018
Mere supervision of agricultural land without carrying out cultivation won’t give rise to agricultural income
Tenet Tax Daily September 10 2018
Cash payments exceeding Rs. 20,000 by agents to farmers for purchase of food-grain couldn’t be disallowed
Tenet Tax Daily September 08 2018
No sec. 54F relief if conveyance deed for sale of land was executed after 2 years from purchase of new house
Tenet Tax Daily September 07 2018
Exp. incurred on education of director’s son having no nexus with business couldn’t be allowed: HC
Tenet Tax Daily September 06 2018
ITAT justified categorization of fees for use of trademark as capital exp. as it was having an enduring benefit
Tenet Tax Daily September 05 2018
Only interest income & not entire investment was to taxed if trust had given loans from its surplus funds
Tenet Tax Daily September 04 2018
Sum paid as ‘affiliation fee’ not connected with transfer of technology couldn’t be treated as royalty
Tenet Tax Daily September 03 2018
No denial of sec. 35 deduction if approval to scientific research society was cancelled with retro-effect
Tenet Tax Daily September 01 2018
No sec. 10(23C) exemption to a profitable venture which was making huge profits year after year
Tenet Tax Daily August 31 2018
CIT wasn’t required to give hearing opportunity to assessee before giving approval for assessment in search cases
Tenet Tax Daily August 30 2018
Forex fluctuation loss on advance received from Foreign Head Office was allowable as deduction: ITAT
Tenet Tax Daily August 29 2018