July 2013 – Page 2 – Tenet Tax & Legal Private Limited

Corporate Tax

Pre-payment charges for closure of housing loan eligible for Section 24 deductions.

Tenet Tax Daily July 09 2013

on July 9, 2013

Corporate Tax

Expenditure on upgradation of an existing machine is a revenue exp.

Tenet Tax Daily July 08 2013

on July 8, 2013

Corporate Tax

Reassessment on a matter examined during original assessment is deemed as change of opinion; reassessment quashed.

Tenet Tax Daily July 06 2013

on July 6, 2013

ITAT remands matter to AO due to non examination of provisions of DTAA while taxing the receipts.

Tenet Tax Daily July 05 2013

on July 5, 2013

Corporate Tax

Delhi High Court (HC) denies to quash settlement order – Authority could verify full and true disclosure by assessee till its final order.

Tenet Tax Daily July 04 2013

on July 4, 2013

Commission paid for soliciting export orders abroad isn’t taxable in India.

Tenet Tax Daily July 03 2013

on July 3, 2013

Where assessee manufacturing sophisticated chemicals, purchased a catalyst used in oxidation process of converting oxylene to pthalic anhydride, it did not amount to payment of royalty and assessee was not required to deduct tax at source while making payment.

Tenet Tax Daily July 02 2013

on July 2, 2013

Reimbursement of purchase price, without margin or profit or value addition, to a sister concern towards payment of purchase price on behalf of assessee is not liable to TDS

Tenet Tax Daily July 01 2013

on July 1, 2013