Tenet Tax Daily December 05 2015
No denial of sec. 80-IB relief if completion certificate was delayed by Municipal Authority
Interest on foreign currency loan given to AE should be benchmarked as per LIBOR
Tenet Tax Daily December 04 2015
Production of backdated completion certificate won’t allow sec. 80-IB deduction
Tenet Tax Daily December 03 2015
Payment made for taking legal advice for purchase of business division is a capital exp.
Tenet Tax Daily December 02 2015
Penal charges on EMI default is taxable on receipt basis
Tenet Tax Daily December 01 2015
Failure to issue notice in time can’t be cured by resorting to deeming fiction of sec. 292BB; reassessment held void
Tenet Tax Daily November 30 2015
AO couldn’t pass attachment order if assessee had filed appeal against such order alongwith stay application
Tenet Tax Daily November 28 2015
Sum received by Irish Co. for providing online access to its e-learning products in India is taxable as royalty
Tenet Tax Daily November 27 2015
Sum paid to clear mortgage can’t be held as exp. incurred in connection with transfer under sec. 48
Tenet Tax Daily November 26 2015
Advance received by lawyers on legal matters can’t be treated as income till completion of case
Tenet Tax Daily November 25 2015
Excess money refunded on cancellation of booking of flats couldn’t be held as interest for purpose of sec. 194A TDS
Tenet Tax Daily November 24 2015
No TP adjustment on pretext of outstanding receivables when working capital adjustment is already made
Tenet Tax Daily November 23 2015
Non-compete fee wasn’t taxable prior to AY 2002-03
Tenet Tax Daily November 21 2015
Appeal filed before ITAT to be restored when proceedings before SetCom is abated
Tenet Tax Daily November 19 2015
No concealment penalty even if assessee had followed different system of accounting for particular exp. and income
Tenet Tax Daily November 18 2015
Delhi HC examines test of “related party” for deciding maintainability of application before SetCom
Tenet Tax Daily November 17 2015
Reassessment made to tax royalty by invoking ‘Force of Attraction Rule’ quashed by Delhi HC
Tenet Tax Daily November 16 2015
ITAT apportions exp. on living Germplasm and technical know-how between capital and revenue exp.
Tenet Tax Daily November 14 2015