Tenet Tax Daily February 06 2014
Consequential additions to be deleted if main additions forming base for re-assessment couldn’t be sustained
No penalty for belated filing of tax audit report as it was caused due to delay in completion of statutory audit
Tenet Tax Daily February 04 2014
ITAT couldn’t adjudicate upon jurisdictional issue when it wasn’t raised before assessing authority
Tenet Tax Daily February 03 2014
AO doesn’t have power to deny sec. 54F exemption while processing return under sec. 143(1)
Tenet Tax Daily February 01 2014
Loss from sale of depreciable asset would always be short-term capital gain or loss if block ceases to exist
Tenet Tax Daily January 31 2014
If all transactions weren’t disclosed during first reassessment, second reassessment was justified HC
Tenet Tax Daily January 30 2014
Non-compete fee received under negative covenant is taxable w.e.f. 1-4-2003 only and not retrospectively
Tenet Tax Daily January 29 2014
ITAT deletes concealment penalty on disclosure by assessee about his past income and payment of taxes thereon
Tenet Tax Daily January 28 2014