Tenet Tax Daily October 16 2017
HC upheld penalty as assessee failed to prove that there was reasonable cause for not deducting TDS
‘Reason to believe’ isn’t required to be disclosed in case of search proceedings: SC
Tenet Tax Daily October 14 2017
In absence of evidence, ITAT couldn’t allow 42% deduction from gross receipts towards non-receipt of fee
Tenet Tax Daily October 13 2017
Delhi HC confirmed sec. 68 additions as assessee failed to prove identity and financial strength of creditors
Tenet Tax Daily October 12 2017
Expenditure incurred on issue of Foreign Currency Convertible Bonds was deductible as revenue expenditure
Tenet Tax Daily October 11 2017
No sec. 153C proceedings if loose papers seized from premises didn’t make any reference to assessee
Tenet Tax Daily October 10 2017
HC slams AO for issuing 2nd reassessment notice on reasons identical to reassessment notice dismissed earlier
Tenet Tax Daily October 09 2017
Reassessment order couldn’t be held invalid merely because AO had failed to mention sec. 143(2) in notice: HC
Tenet Tax Daily October 07 2017
Sec. 41(1) couldn’t be invoked in respect of conversion of advance received from parent co. into capital
Tenet Tax Daily October 06 2017
Rectification order by ITAT didn’t require interference if revenue went into details of case in course of hearing
Tenet Tax Daily October 05 2017
HC slam AO for issuing reassessment notice in name of Transferor-Company after amalgamation
Tenet Tax Daily October 04 2017
SetCom application couldn’t be rejected if it was allowed for other group companies making similar disclosure
Tenet Tax Daily October 03 2017
Receipt of interest on delay realisation of funds from foreign AE was a separate international transaction
Tenet Tax Daily October 02 2017
No increase in ALV of property if interest-free loan was taken prior to tenancy
Tenet Tax Daily September 30 2017
Sec. 264 revision couldn’t be allowed if recovery proceedings were initiated against assessee: HC
Tenet Tax Daily September 29 2017
Failure to pass draft assessment order before passing final order would lead to withdrawal of final order: ITAT
Tenet Tax Daily September 28 2017
No reassessment on basis of mere change of opinion by AO to deny exemption under sec. 10B
Tenet Tax Daily September 27 2017
Software payments can’t be held as royalty if payer doesn’t have any right of modification: ITAT
Tenet Tax Daily September 26 2017