Tenet Tax Daily October 17 2014
Concealment penalty imposed for claiming interest paid under Income-tax Act as business expenditure
No penalty for setting off unabsorbed depreciation and losses against capital gains on wrong advice on counsel
Tenet Tax Daily October 16 2014
Exp. on repair and renovation of rented premises used for the purpose of business is revenue in nature
Tenet Tax Daily October 15 2014
ITAT allows sec. 54 relief for two flats as their layout plan indicated that both were used as a single unit
Tenet Tax Daily October 14 2014
Co. incurring abnormal losses due to winding-up of relation with key clients are excludible from comparable lists
Tenet Tax Daily October 13 2014
Section 251 empowers CIT (Appeals) to remit case back to Assessing Officer instead of deciding it
Tenet Tax Daily October 11 2014
Sums paid to DTH operators for placement of channels in a particular frequency couldn’t be deemed as royalty
Tenet Tax Daily October 10 2014
Income from offshore supply of cables couldn’t be attributed to PE of NR in India, says ITAT
Tenet Tax Daily October 09 2014
High Court interprets words ‘substantially’; lays down 50% threshold for indirect transfer of capital assets
Tenet Tax Daily October 08 2014
Sum paid for importing service manuals which contained instructions for usage of equipment wasn’t royalty
Tenet Tax Daily October 07 2014
Group Cos negotiating/securing contracts on behalf of foreign Co. would be deemed as service PE in India
Tenet Tax Daily October 06 2014
Equity investments in AE can’t be deemed as loans/advances; it’s outside the ambit of international transaction
Tenet Tax Daily October 04 2014
ITAT directs AO to examine agreement with NR agents and ascertain whether services rendered by them were FTS
Tenet Tax Daily October 03 2014
Cap gains from sale of G-Securities if not taxable in UAE shall not be taxable in India as well under Indo-UAE DTAA
Tenet Tax Daily October 02 2014
Sum paid to Singaporean-Co. for logistic services wasn’t ‘FTS’ as it didn’t satisfy make available clause of DTAA
Tenet Tax Daily October 01 2014
Entities engaged in KPO engineering services couldn’t be comparables for a Co. providing back office operations
Tenet Tax Daily September 30 2014
Advance sum received by service provider deemed as income only when services are rendered by it
Tenet Tax Daily September 29 2014
Non-consideration of ruling of High Court or Supreme Court by ITAT is an apparent mistake and rectifiable
Tenet Tax Daily September 27 2014