Tenet Tax Daily May 24 2016
Loan advanced to AE couldn’t be said to be for non-business purpose if assessee and its AE were in same business
Addition made under sec. 40A(2) set aside as interest was paid to related party at prevailing market rate
Tenet Tax Daily May 23 2016
Non-compete fee being a business income won’t be taxable in India unless recipient has PE in India
Tenet Tax Daily May 21 2016
No tax on alimony received from ex-husband
Tenet Tax Daily May 20 2016
Sum received for supplying of data without making available any technology for its use won’t be taxed as royalty
Tenet Tax Daily May 19 2016
Fee for service which is inextricably linked to sale isn’t treated as fee for included services under Indo-US DTAA
Tenet Tax Daily May 18 2016
TP adjustment set aside as footwear sold from old stock by ‘Adidas’ were treated to be from new stock by TPO
Tenet Tax Daily May 17 2016
Refund arising out of Tribunal’s order must be granted to assessee even if dept. preferred appeal before HC
Tenet Tax Daily May 16 2016
No penalty for non-maintenance of TP docs if assessee furnished updated margins of earlier comparables
Tenet Tax Daily May 14 2016
Reasons to believe for reassessment has to be furnished even when assessment is completed under sec. 143(1)
Tenet Tax Daily May 13 2016
Exp. incurred on renovation of leased premise to be treated as capital expenditure
Tenet Tax Daily May 12 2016
Amendment made to sec. 40(a)(ia) by Finance Act, 2012 should be applicable retrospectively w.e.f 1/4/2005: ITAT
Tenet Tax Daily May 11 2016
Benefit of India-UK DTAA can’t be denied to a UK based partnership firm
Tenet Tax Daily May 10 2016
Rental income from guest houses is taxable under the head business income and not as house property
Tenet Tax Daily May 09 2016
Wheeling charges paid to ‘Power Grid Corporation’ couldn’t be deemed as ‘FTS’; liable to TDS under sec. 194C
Tenet Tax Daily May 07 2016
Carry forward of losses couldn’t be denied if return wasn’t filed in time due to technical snags in dept.’s website
Tenet Tax Daily May 06 2016
For determining service PE actual stay of employees in India is relevant and not entire contract period
Tenet Tax Daily May 05 2016
Processing of return under sec. 143(1) couldn’t be regarded as assessment
Tenet Tax Daily May 04 2016