Tenet Tax Daily February 28 2015
Sum paid on testing of ultrasonic meter wasn’t FTS as it didn’t satisfy make available clause of India-USA DTAA
Commission paid to foreign agent for securing sales order won’t fall within the ambit of ‘FTS’; not liable to TDS
Tenet Tax Daily February 27 2015
Club subscription paid by Co. on behalf of its managing director was personal exp; disallowable under Sec. 37(1)
Tenet Tax Daily February 26 2015
Even prior to 2013 India-UK protocol benefit of DTAA was allowed to fiscally transparent firm established in UK
Tenet Tax Daily February 25 2015
Sec. 234C interest to be computed considering date of presentation of cheque of tax payments & not its clearing date
Tenet Tax Daily February 24 2015
Security deposit received from lessee isn’t deductible as ‘debt owed’ for computation of net wealth
Tenet Tax Daily February 23 2015
Sec. 54: Booking of unconstructed flat in housing project to be deemed as investment for construction of house
Tenet Tax Daily February 21 2015
Losses under the head capital gains won’t be set-off and carry forward in case of amalgamation and demerger
Tenet Tax Daily February 20 2015
Sum received towards installation of mobile antenna on terrace was taxable as income from house property
Tenet Tax Daily February 19 2015
Cost of production of abandoned TV serial was allowable as business exp. to its producer
Tenet Tax Daily February 18 2015
Date of allotment of land would be its date of acquisition and not the date of sale deed to compute capital gains
Tenet Tax Daily February 17 2015
Capital gain accrues on relinquishment of rights in land to developer to get constructed area
Tenet Tax Daily February 16 2015
No reassessment after 4 years to disallow sums paid to NR if assessee had already disclosed all material facts
Tenet Tax Daily February 14 2015
Transaction of providing loan to foreign AE at a higher rate than LIBOR was at ALP
Tenet Tax Daily February 13 2015
Assessment order was invalid as it was issued on basis of time barred notice under sec. 143(2)
Tenet Tax Daily February 12 2015
Tax dues of partnership firm can’t be adjusted against refund to partner in his personal capacity
Tenet Tax Daily February 11 2015
Sec. 143(1) intimation won’t be deemed as completion of assessment to bar filing of revised return, rules HC
Tenet Tax Daily February 10 2015
Co. outsourcing major portion of its business to third party couldn’t be taken as comparable for ITES provider
Tenet Tax Daily February 09 2015