Tenet Tax Daily December 30 2014
Once source of deposit in bank account is explained, subsequent withdrawal thereof need not be explained
Mere shortage in jewellery found during survey wouldn’t be deemed as undisclosed investment by jeweller
Tenet Tax Daily December 29 2014
No TDS disallowance on payment of taxes by payee; proviso to sec. 40(a)(ia) effective prospectively from 1.4.2013
Tenet Tax Daily December 26 2014
No concealment penalty on assessee when it had declared capital gains but disputed its tax liability
Tenet Tax Daily December 25 2014
Rental income from property equipped with specialized machinery is house property income and not business income
Tenet Tax Daily December 24 2014
Additions affirmed for loans given to parties with dubious identity and credit worthiness
Tenet Tax Daily December 23 2014
ITAT directs TPO to make TP adjustment by excluding comparables with related party transaction exceeding 25%
Tenet Tax Daily December 22 2014
AO should have a cogent reasons for rejecting books of account prepared on basis of bank entries
Tenet Tax Daily December 19 2014
In reassessment cases it is to be discussed whether reason to believe constituted a change of opinion of AO
Tenet Tax Daily December 18 2014
Payments made by Delhi Race Club for live telecast of horse races weren’t covered within the ambit of ‘royalties’
Tenet Tax Daily December 17 2014
HC can’t review orders of SetCom; powers are confined to reviewing its decision making process rather decision itself
Tenet Tax Daily December 16 2014
Sum received for hiring out dredgers wasn’t taxable as royalty under Article 12 of India-Netherland DTAA
Tenet Tax Daily December 15 2014
Income from providing seismic services was taxable under sec. 44BB if it was connected with PE of NR in India
Tenet Tax Daily December 13 2014
Sum paid to NR to acquire software for in-house use without permission of commercial exploitation is royalty
Tenet Tax Daily December 12 2014
Sum received by international news agency on distribution of news and related photos in India is royalty
Tenet Tax Daily December 11 2014
New undertaking won’t be treated as existing one due to common management or accounts; sec. 10A relief available
Tenet Tax Daily December 10 2014
Advances disclosed in returns and subsequently adjusted against sales couldn’t be deemed as undisclosed income
Tenet Tax Daily December 09 2014
Concealment penalty on assessee upheld on his failure to explain source of flats acquired and shown in return
Tenet Tax Daily December 08 2014