Tenet Tax Daily November 14 2014
Interest paid on loan to acquire shares couldn’t treated as its cost of acquisition if interest wasn’t capitalized
No sec. 194C TDS on sums paid to contractor for job-work if liability for execution of contract was on assessee
Tenet Tax Daily November 13 2014
CIT(A) had to continue adjudication of TP adjustment not related with MAP proceeding initiated with US authorities
Tenet Tax Daily November 12 2014
Transfer order couldn’t be accepted if it didn’t indicate any reason for transfer of case, rules HC
Tenet Tax Daily November 11 2014
ITAT directs re-adjudication of case as TPO had allowed less then 4 working days to assessee to respond
Tenet Tax Daily November 10 2014
Exp. incurred on abandoned projects is allowable under sec. 37(1)
Tenet Tax Daily November 08 2014
Provisions of section 115A(1)(b)(AA) do not debar assessee to entre into new agreement after change of situation resulting in reduced rate of royalty
Tenet Tax Daily November 07 2014
Exp. incurred by cable operator in laying cables for providing cable connections to viewers was revenue in nature
Tenet Tax Daily November 06 2014
ITAT allows benefit of second proviso to sec. 40(a)(ia) in case of payment to NR; Non-discrimination clause invoked
Tenet Tax Daily November 05 2014
ITAT directs AO to decide whether receipt for customized research/retail management services would royalty or FTS
Tenet Tax Daily November 04 2014
Assessee couldn’t challenge order of ITAT if it had applied amended provisions of MAT pursuant to directions of HC
Tenet Tax Daily November 03 2014
Sec. 92CA only empowers TPO to determine ALP of transaction; he can’t reject payment made to AE
Tenet Tax Daily November 01 2014
ITAT upheld CIT’s revisional order as AO had erroneously granted higher depreciation on windmills
Tenet Tax Daily October 31 2014
Rent paid to a depot agent under a composite service agreement would attract 194C and not sec. 194-I TDS
Tenet Tax Daily October 23 2014
No penalty if assessee offers undisclosed income to tax in return filed pursuant to search of another person
Tenet Tax Daily October 22 2014
Deductor couldn’t be treated as an assessee-in-default if deductee was not liable to pay taxes due to losses
Tenet Tax Daily October 21 2014
Time-limit to rectify mistake under sec. 154 could go beyond 6 months but on merits; HC considers CBDT’s circular
Tenet Tax Daily October 20 2014
Market research exp. incurred by trader was in nature of revenue exp., says ITAT
Tenet Tax Daily October 18 2014