Tenet Tax Daily March 20 2017
Rent taxable as business receipt as leasing out was part of business activity of firm as per partnership deed
House given to wife for inadequate consideration could be attached to recover tax dues of husband
Tenet Tax Daily March 17 2017
Sec. 44BB covers hiring of barge for offshore accommodation being indirect usage of barge to extract mineral oil
Tenet Tax Daily March 16 2017
No disallowance of foreign travel exp. of partners who travelled to Countries from which sizeable business generated
Tenet Tax Daily March 15 2017
AO’s order held as erroneous as he failed to enquire into provisions for loss on assets for disposal
Tenet Tax Daily March 14 2017
No TDS liability if payee not identifiable at time of making provision for expenditure at year end
Tenet Tax Daily March 13 2017
A company can’t be excluded for low turnover when it is otherwise functionally comparable
Tenet Tax Daily March 11 2017
Failure to file Form 3CEB won’t invite reassessment when transactions with AE were disclosed during assessment
Tenet Tax Daily March 10 2017
No sec. 54F relief if newly acquired house is instantly demolished: Chennai ITAT
Tenet Tax Daily March 09 2017
When activities relating to construction or installation are specifically covered under article 5(3) of India-Singapore DTAA, then one need not to go in article 5(6) and, therefore, activity of assessee which is purely installation services has to be scrutinized under article 5(3) only and not within article 5(6)
Tenet Tax Daily March 08 2017
Whether in terms of relevant clauses of DTAA between India-Italy and India-Japan, where payments fall within purview of Independent Personal services then, even if, they are treated as Fees for technical fee or Fees for included services, such income of non-resident shall be liable to be taxed under Article governing Independent Personal services and not as Fee for technical services
Tenet Tax Daily March 07 2017
Once raw material quantity that did not appear in regular books of account was discovered and could be inferred as a result of search, onus lay upon assessee to furnish full particulars as to cost of that raw material or average cost
Tenet Tax Daily March 06 2017
Section 80-IB(10) relief to be allowed only when return is filed on or before due date given under section 139(1)
Tenet Tax Daily March 04 2017
Payment made for connectivity facility for sending bulk SMS couldn’t be held as royalty: Mumbai ITAT
Tenet Tax Daily March 03 2017
Section 153 not to be applied in respect of proceedings covered under ambit of sec. 144C
Tenet Tax Daily March 02 2017
Failure of assessee to disclose capital gains on basis of sec. 50C would invite reassessment
Tenet Tax Daily March 01 2017
Liaison office of GE India held as agency PE as it has authority to conclude contract on behalf of GE overseas
Tenet Tax Daily February 27 2017
No tax on sum received by Dutch Airlines for line maintenance facilities provided to other Airlines
Tenet Tax Daily February 25 2017