Tenet Tax Daily July 23 2013
Payments for launching and tracking of satellite aren’t FTS as no technology is made available to assessee
Payment of consultancy fees to carry on business more efficiently and profitably is a revenue expenditure
Tenet Tax Daily July 22 2013
AAR can only determine tax liability of applicant and not any of its affiliate or AOP
Tenet Tax Daily July 20 2013
AAR can only determine tax liability of applicant and not any of its affiliate or AOP
DRP should pass a speaking order considering all objections raised by assessee
Tenet Tax Daily July 18 2013
Payment for downloading licensed software is payment of ‘royalty’ subject to withholding tax
Tenet Tax Daily July 17 2013
No concealment penalty u/s 271(1)(c) on mere disallowance of a claim if full details were disclosed in return
Tenet Tax Daily July 16 2013
Subsidiary company is not a ‘related person’ for sec. 40A(2)
Tenet Tax Daily July 15 2013
Entities incurring losses in odd circumstances excluded from list of comparables for TP study
Tenet Tax Daily July 13 2013
Assessee not required to establish irrecoverability of a debt before writing it off to claim bad debt deduction.
Tenet Tax Daily July 12 2013
Ahmedabad HC – Submission of audited accounts doesnot mean AO cannot order for special audit
Tenet Tax Daily July 11 2013
Pre-payment charges for closure of housing loan eligible for Section 24 deductions.
Tenet Tax Daily July 09 2013
Expenditure on upgradation of an existing machine is a revenue exp.
Tenet Tax Daily July 08 2013
Reassessment on a matter examined during original assessment is deemed as change of opinion; reassessment quashed.
Tenet Tax Daily July 06 2013
ITAT remands matter to AO due to non examination of provisions of DTAA while taxing the receipts.
Tenet Tax Daily July 05 2013
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
Commission paid for soliciting export orders abroad isn’t taxable in India.
Tenet Tax Daily July 03 2013