Tenet Tax Daily May 09 2015
TPO couldn’t determine ALP of services as Nil without examining docs showing rendition of services by AE
AAR couldn’t reject application without explaining how transaction via Mauritius route was made for tax avoidance
Tenet Tax Daily May 08 2015
AO can’t make reference to Valuation Officer without declaration of lesser sale price by assessee
Tenet Tax Daily May 07 2015
No reassessment after 4 years without obtaining sanction of CIT – original assessment was made under sec. 143(3)
Tenet Tax Daily May 06 2015
No deemed income of NR u/s 9 when it had established Liaison office in India to purchase goods for export
Tenet Tax Daily May 05 2015
Non-resident co.’s service of preparing finance scheme and arranging national and international loans, was ‘consultancy service’
Tenet Tax Daily May 04 2015
No sec. 11 relief if trust was doing supermarket business on commercial lines, being not incidental to its objects
Tenet Tax Daily May 01 2015
Mere non-registration of asset in name of assessee doesn’t lead to denial of deprecation claim thereon
Tenet Tax Daily April 30 2015
No TDS on sum paid for extra cost incurred by contractor due to delay in completion of work by sub-contractor
Tenet Tax Daily April 29 2015
No agency PE under India-France DTAA even if agent is wholly dependent on foreign Co. unless transaction isn’t at ALP
Tenet Tax Daily April 28 2015
TP adjustment is to be made only in respect of purchases made from AE and not from unrelated parties
Tenet Tax Daily April 27 2015
Timely service of sec. 143(2) notice is mandatory and not only a mere procedural requirement
Tenet Tax Daily April 24 2015
Penalty leviable if assessee didn’t add back depreciation charged under Companies Act in computation of income
Tenet Tax Daily April 23 2015
No disallowance for cash payment for purchase of gold bars held as investment – ITAT
Tenet Tax Daily April 21 2015
Assessment order quashed as revenue failed to prove that it was dispatched in time with demand notice
Tenet Tax Daily April 20 2015
Sum received towards installation of mobile antenna on terrace was taxable as income from house property
Tenet Tax Daily April 18 2015
Usance charges paid to NR on import purchases would be considered as an interest; liable to TDS
Tenet Tax Daily April 17 2015