Tenet Tax Daily March 24 2014
Lessor allowed to claim depreciation as there was no doubt on purchase and letting out of machinery
Additional claim can be made only by filing a revised return and not by filing a revised computation
Tenet Tax Daily March 22 2014
Mere transfer of an amount from subsidy account to partner’s capital account wouldn’t make it liable to tax
Tenet Tax Daily March 21 2014
Advertising agency isn’t taxable on its advertisement receipts till it appears before public; ITAT relies on AS-9
Tenet Tax Daily March 20 2014
Reference to DVO can be made only after rejection of books and recording of reasons
Tenet Tax Daily March 19 2014
SC raps HC for affirming ITAT’s order on taxability under sec. 9 without considering question of law raised
Tenet Tax Daily March 18 2014
Sum received by astrologer for predicting win of ‘Jayalalithaa’ was taxable as business receipts
Tenet Tax Daily March 15 2014
Sum paid in cash of smaller denomination in lieu of currency of higher denomination is out of ambit of sec. 40A(3)
Tenet Tax Daily March 14 2014
HC condones delay in filing appeal on demise of assessee’s mother
Tenet Tax Daily March 11 2014
HC slams revenue for contending that profits on sale of flats were business profits first time before ITAT
Tenet Tax Daily March 10 2014
HC approves sale and lease back transaction in absence of any evidence to prove it as sham
Tenet Tax Daily March 08 2014
ESOP exp. is an employee cost; ITAT allows deduction for difference between market price and issued price
Tenet Tax Daily March 07 2014
Foreign Co. while acting as lead manager and underwriting ADRs was not rendering any technical service; no FTS
Tenet Tax Daily March 06 2014
Opportunity to be given to assessee to challenge value recommended by DVO for making additions to his income
Tenet Tax Daily March 05 2014
CIT(A) couldn’t invoke sec. 251 to reopen cases where appeal was neither pending nor disposed off by him
Tenet Tax Daily March 04 2014
Period of holding of a flat reckoned from date of allotment letter as such letter extinguished all rights of seller
Tenet Tax Daily March 03 2014
Income from sale of shares treated as capital gain even when it witnessed higher frequency of transactions
Tenet Tax Daily March 01 2014
Disallowance of expenditure paid to holding company in absence of documents disallowed under sec. 40A(2)
Tenet Tax Daily February 28 2014