Tenet Tax Daily September 05 2014
Profit from sale of agricultural land can’t be included in book profit for the purpose of MAT
Sec. 54F benefit is available on purchase of multiple units if it constitutes one residential house
Tenet Tax Daily September 04 2014
TNMM is most appropriate method for determining ALP of agency and marketing support services rendered to AE
Tenet Tax Daily September 03 2014
Sum received by assessee towards sharing of global telecommunication facility with NR agents wasn’t FTS
Tenet Tax Daily September 02 2014
Salary income declared after search proceedings would be undisclosed even if tax was deducted therefrom
Tenet Tax Daily September 01 2014
Additions on basis of info extracted from loose paper found in search proceedings of third party set aside
Tenet Tax Daily August 30 2014
License fee paid by Hotel for using courtyard of a palace for its business was allowable as revenue expenditure
Tenet Tax Daily August 29 2014
AO couldn’t bypass directions of DRP to tax receipts for services rendered abroad in his own way
Tenet Tax Daily August 28 2014
An assessee is entitled to interest on tax refund even if it arises after adjustment of MAT credit
Tenet Tax Daily August 27 2014
Income accrues on completion of services; ITAT accepts Completion Contract Method for revenue recognition
Tenet Tax Daily August 26 2014
HC dismissed writ as alternate remedy was available to challenge issue regarding validity of reassessment notice
Tenet Tax Daily August 25 2014
Interest granted on tax refund could be withdrawn by AO for giving effect to order passed by ITAT
Tenet Tax Daily August 23 2014
Gymkhana Club providing sports and other recreational facilities only to its members can’t be treated as charitable trust
Tenet Tax Daily August 22 2014
Cos with huge turnover, abnormal profits or functional differences are excludible from comparables list
Tenet Tax Daily August 21 2014
Payment to foreign co. to conduct navigation studies at Indian port doesn’t satisfy ‘make available’ clause; no FTS
Tenet Tax Daily August 20 2014
Cos. engaged in sales of software can’t be used as comparables for Cos. providing software development services
Tenet Tax Daily August 19 2014
Consultant doesn’t impart any experience to client when he renders consultancy services; not to be treated as royalty
Tenet Tax Daily August 18 2014
CIT can’t revise order of AO because he loses his jurisdiction due to a circular issued by CBDT subsequently
Tenet Tax Daily August 16 2014