Tenet Tax Daily September 5 2013
No concealment penalty despite wrong claim if no inaccurate particulars reported by assessee
Section 10(23C) recognition not to be denied to a society pursuing other objects along with education
Tenet Tax Daily September 4 2013
Prior to issue of circular 7/2009, export commission paid to NR outside India wasn’t liable to TDS
Tenet Tax Daily September 3 2013
Support Service Receipts of Thai company from Indian consultancy company is not FTS
Tenet Tax Daily September 2 2013
SC slams HC for admitting writ – order set aside as assessee had an alternate remedy of filing appeal to CIT(A)
Tenet Tax Daily August 31 2013
Interest paid to prospective buyers on cancellation of plot bookings is allowable as revenue expenditure
Tenet Tax Daily August 30 2013
Repair expenditure is not capital expenditure merely because it increases the life of an existing asset
Tenet Tax Daily August 29 2013
AO is supposed to be mentor of assessee
Tenet Tax Daily August 28 2013
Concessional rate to tax the dividend isn’t available under treaty if it couldn’t be taxed in country of accrual
Tenet Tax Daily August 27 2013
Employees’ contribution to PF, ESI paid after due dates but before sec. 139(1) due date is deductible
Tenet Tax Daily August 26 2013
Business deemed to have commenced even on commencement of one of the activities constituting the business
Tenet Tax Daily August 24 2013
Sum incurred mainly on advertisement to promote sales is an allowable revenue expenditure
Tenet Tax Daily August 23 2013
No penalty for Concealment if mistake was bona fide and rectified prior to initiation of assessment
Tenet Tax Daily August 22 2013
Sec. 43B does not disallow an expense which has not been claimed in the return by the assessee
Payment made for purchase of copyrighted software couldn’t be deemed as royalty
Tenet Tax Daily August 19 2013
Payments to non-residents for procuring export orders not fee for technical services or royalty
Tenet Tax Daily August 17 2013
AS-7 not mandatory for all real estate developers for working out profits
Tenet Tax Daily August 16 2013