Tenet Tax Daily January 27 2014
Foreign exchange fluctuation loss in derivatives to be considered on last date of accounting year and deductible under section 37(1)
Assessee, not liable to pay education cess and secondary and higher education cess when tax as per DTAA
Tenet Tax Daily January 25 2014
Bottling of LPG gas into cylinders tantamounts to manufacture for section 80-IB relief
Tenet Tax Daily January 24 2014
TPO ought to have first analysed internal comparable before external one for making TP adjustment
Tenet Tax Daily January 23 2014
Expenditure incurred on tenancy rights during acquisition of running business is revenue expenditure
Tenet Tax Daily January 22 2014
ITAT remands back matter to enquire into an issue directly relevant to TP adjustments and not dealt with by DRP
Tenet Tax Daily January 21 2014
Sec. 40(a)(ia) contemplates actual tax deduction and not mere debit entry in account of payee
Tenet Tax Daily January 20 2014
Services rendered outside India not taxable in India; ITAT ignores retro-amendment to sec. 9
Tenet Tax Daily January 18 2014
Taxability under the Act becomes irrelevant if income earned by NR isn’t taxable in India as per DTAA
Tenet Tax Daily January 17, 2014
HC slams revenue for initiating reassessment at instance of audit party without recording his own reasons
Tenet Tax Daily January 16, 2014
Provision for gratuity and leave encashment not a contingent liability but deductible as business expense
Tenet Tax Daily January 11 2014
No concealment penalty on mere TP adjustment if such issue was of debatable nature
Tenet Tax Daily January 13 2014
Non-confirmation of sums by creditor does not warrant sec. 68 addition if genuineness & identity are proved
Tenet Tax Daily January 14 2014
Export commission paid to NR outside India for services rendered outside India out of the ambit of TDS
Tenet Tax Daily January 15 2014
Passenger Service Fee paid by Jet Airways on behalf of its customers won’t attract TDS under sec. 194-I
Tenet Tax Daily January 09 2014
ITAT calls for exclusion of comparables in which high operating margin occurred due to extraordinary events
Tenet Tax Daily January 08 2014
Granting less than 24 hours to reply to show-cause notice is a flaw in decision making process; assessment quashed
Tenet Tax Daily January 07 2014
Filing of ITR does not bar filing an advance ruling application
Tenet Tax Daily January 06 2014