Tenet Tax Daily December 7 2013
Payment of self-assessment tax instantly on detection of default saves assessee from clutches of penalty
Dealings between assessee and NR on principal-to-principal basis rule out existence of ‘service PE’
Tenet Tax Daily December 6 2013
No reassessment on mere allegation of bogus entries as AO failed to identify culprits for such entries
Tenet Tax Daily December 5 2013
Only profits embedded in purchases made from grey market are taxable in hands of assessee
Tenet Tax Daily December 3 2013
Sum paid to NR to identify potential customers and to conduct market survey abroad held taxable as FTS
Tenet Tax Daily December 2 2013
Short-term capital gain computed on long-term depreciable assets can be set off against long-term capital loss
Tenet Tax Daily November 30 2013
No royalty from sale of software, HC ignores amended Sec. 9 as DTAA more beneficial – Samsung’s case distinguished
Tenet Tax Daily November 29 2013
Section 54 does not require that assessee must earn income from said property
Tenet Tax Daily November 28 2013
Tenet Tax Daily November 26 2013
TP adjustments for not charging cost from AEs deleted as assessee had to settle transactions at cost-plus mark up
Tenet Tax Daily November 25 2013
Assessee to initiate fresh proceedings if it’s not satisfied with consequential order passed after ITAT’s direction
Tenet Tax Daily November 23 2013
HC deletes additions for cash credits on proving identify of share applicants
Tenet Tax Daily November 22 2013
Declaring an income admitted during search and payment of taxes thereon saves assessee from sec. 271AAA penalty
Tenet Tax Daily November 21 2013
Disallowing excess depreciation doesnot justify re-assessment if assessee was subjected to MAT provisions
Tenet Tax Daily November 20 2013
No FTS under Indo-USA DTAA if services rendered don’t clear ‘make available’ benchmark
Tenet Tax Daily November 19 2013
HC upheld disallowance as no nexus existed between expenditure and business purpose
Tenet Tax Daily November 18 2013
If no human intervention is involved, such services cannot be covered under section 9(1)(vii)
Tenet Tax Daily November 15 2013
Sum received by assessee from letting out of office to fulfil financial needs of business is business receipt
Tenet Tax Daily November 14 2013