Tenet Tax Daily April 29 2014
Payment for software licensed to foreign HO and used by Indian branch with non-exclusive rights isn’t ‘royalty’
ITAT stayed recovery of tax as assessee had made a strong case against TP adjustment
Tenet Tax Daily April 28 2014
Reassessment quashed as AO couldn’t suddenly treat profit from share dealing as business income and not cap. Gains.
Tenet Tax Daily April 26 2014
HC lays criteria to identify AOP;relies on ratio of ‘Ishikawajima-Harima’ for taxability of offshore supplies
Tenet Tax Daily April 25 2014
Presumptive taxation under sec. 44DA couldn’t invoked if services were squarely covered by sec. 44BB
Tenet Tax Daily April 24 2014
Delhi I-T Authority has jurisdiction over assessee residing and maintaining bank account in Delhi
Tenet Tax Daily April 23 2014
Concealment penalty couldn’t be imposed merely because ITAT confirmed quantum of additions made by AO
Tenet Tax Daily April 22 2014
When applying CUP method international transaction can be compared with actual transaction and not with mere ‘quotation’
Tenet Tax Daily April 21 2014
HC allowed wastage claimed by assessee as no doubt was casted on entries in stock register maintained by assessee
Tenet Tax Daily April 19 2014
Forward contracts to hedge against forex losses from import or export of diamonds by jeweller aren’t speculative
Tenet Tax Daily April 18 2014
Tax dues couldn’t be recovered from director if AO didn’t make any efforts to recover it from company
Tenet Tax Daily April 17 2014
Matter remanded as AO didn’t give an opportunity to assessee to explain genuineness of lease back transaction
Tenet Tax Daily April 16 2014
ITAT exempts capital gain on sale of self-generated trademark as its cost of improvement isn’t ascertainable
Tenet Tax Daily April 15 2014
Exemption disallowed as assessee failed to prove that his income was from agricultural operations
Tenet Tax Daily April 14 2014
SECTION 90 OF THE INCOME-TAX ACT, 1961 – DOUBLE TAXATION AGREEMENT – AGREEMENT FOR AVOIDANCE OF DOUBLE TAXATION AND PREVENTION OF FISCAL EVASION WITH FOREIGN COUNTRIES – SRI LANKA
Tenet Tax Daily April 12 2014
Partners aren’t liable to pay tax on income which is exempt in hands of firm; CBDT clarifies
Tenet Tax Daily April 11 2014
Payment for transponder service is ‘royalty’; ITAT refers Explanation 6 to sec. 9(1)(vi) to interpret ‘process’
Tenet Tax Daily April 10 2014
ITAT explains interplay between Article 7 and Article 13 of India-UK DTAA
Tenet Tax Daily April 09 2014