Tenet Tax Daily February 02 2017
Sec. 194J isn’t applicable in case of transmission of electricity
AO couldn’t question genuineness of commission when agents were liable to recover price of goods from customers
Tenet Tax Daily February 01 2017
Payment to Event Management Co. for IPL hosted in South Africa was FTS under India-UK treaty
Tenet Tax Daily January 31 2017
Sec. 179 tax recovery can be made from director after considering his shareholding and extent of control over Co.
Tenet Tax Daily January 30 2017
Even advance payment for flat would be eligible for sec. 54 relief
Tenet Tax Daily January 28 2017
Open charges paid to Power Grid for use of transmission lines couldn’t be held as royalty
Tenet Tax Daily January 27 2017
Reassessment made against Diamond Merchant on basis of info of bogus purchases given by Investigation Wing
Tenet Tax Daily January 26 2017
ITAT allows deduction of license fee of goodwill; rejects revenue’s stand that transaction was colourable device
Tenet Tax Daily January 25 2017
Sum received on transfer of right to host and Promote ‘Formula F1 Race’ isn’t royalty
Tenet Tax Daily January 24 2017
Proviso has prospective effect which excludes applicability of sec. 44B due to operation of sec. 44DA
Tenet Tax Daily January 23 2017
Under charging of interest on excess credit period allowed to AE is an international transaction
Tenet Tax Daily January 21 2017
Statement of family members would be considered for making additions even if it wasn’t made during search
Tenet Tax Daily January 19 2017
Assessee could approach ITAT when Chief CIT had rejected sec. 10(23C) exemption application
Tenet Tax Daily January 18 2017
Loss incurred in chit-fund would be deductible if funds were raised for business purposes
Tenet Tax Daily January 17 2017
Comparable selected in earlier year couldn’t be excluded in later years without any change in facts
Tenet Tax Daily January 16 2017
Developer constructing Airport and Bridges for Govt. agencies entitled to sec. 80-IA relief
Tenet Tax Daily January 14 2017
No sec. 14A disallowance when assessee had sufficient interest-free funds to make investment
Tenet Tax Daily January 13 2017
Continuous payments made to transporters would be aggregated to consider TDS limit under sec. 194C
Tenet Tax Daily January 12 2017