Tenet Tax Daily May 01 2017
Foreign entity was to be taken as tested party when relevant data for its comparison was available in public domain
No denial of sec. 10(23C) relief merely because society had provided medical treatment on subsidized basis
Tenet Tax Daily April 29 2017
No reassessment alleging TDS liability on sum paid to NR if AO failed to bring any tangible material
Tenet Tax Daily April 28 2017
Interest on FD on investing deposit received from leasing IT parks isn’t eligible for sec. 80-IAB relief
Tenet Tax Daily April 27 2017
No denial of sec. 10(37) exemption if compensation amount of agricultural land was settled after negotiation: SC
Tenet Tax Daily April 26 2017
Legal fee paid to protect and maintain right in a registered software was an allowable expenditure
Tenet Tax Daily April 25 2017
Section 54 does not stipulate purchase of new asset from sale proceeds of original capital asset only: ITAT
Tenet Tax Daily April 24 2017
Payment made for grant of access to software without its copyright can’t be held as royalty
Tenet Tax Daily April 22 2017
‘Jetty’ using conveyor belt to load iron core to vessels is temporary structure; entitled to 100% depreciation
Tenet Tax Daily April 20 2017
Due to failure to substantiate monetary ability of brother to make substantial gift, sec. 68 additions upheld
Tenet Tax Daily April 21 2017
No Sec. 195 TDS on payment under Secondment when it was taxed in India as salary: ITAT
Tenet Tax Daily April 19 2017
Fresh claim not made in original return can be raised before Tribunal for first time: HC
Tenet Tax Daily April 18 2017
No disallowance u/s 40A(2) on basis that a professional couldn’t perform multiple tasks for more than one concern
Tenet Tax Daily April 17 2017
Disallowance on basis of activity of a person engaged on a different business model wasn’t justified: ITAT
Tenet Tax Daily April 15 2017
No denial of sec. 10(23C) relief to school just because its governing body have object of Vedic teachings
Tenet Tax Daily April 14 2017
Share application money written back in books of account cannot be treated as income, ITAT followed HC ruling
Tenet Tax Daily April 13 2017
No concealment penalty if assessee duly paid tax after realizing that travelling expense was untenable: HC
Tenet Tax Daily April 12 2017
AO was justified in rejecting books of account if assessee failed to produce books during scrutiny assessment
Tenet Tax Daily April 11 2017