Tenet Tax Daily March 31 2015
No reassessment after 4 years to disallow sums paid to NR if assessee had already disclosed all material facts
ALP of advertisement exp. reimbursed to foreign AE couldn’t be taken at nil if it was incurred for Indian affiliate
Tenet Tax Daily March 30 2015
Security deposit received from lessee isn’t deductible as ‘debt owed’ for computation of net wealth
Tenet Tax Daily March 28 2015
Assessment order was invalid as it was issued on basis of time barred notice under sec. 143(2)
Tenet Tax Daily March 27 2015
Commission paid to foreign agent for securing sales order won’t fall within the ambit of ‘FTS’; not liable to TDS
Tenet Tax Daily March 26 2015
Sec. 154 had be invoked when AO had wrongly mentioned agriculture income under the head exp.
Tenet Tax Daily March 25 2015
Payment to NR under a composite contract for offshore supply and installation subject to TDS
Tenet Tax Daily March 23 2015
Legal exp. incurred on feasibility report preparation for acquisition of a new brand was revenue exp.
Tenet Tax Daily March 21 2015
Sec. 143(1) intimation won’t be deemed as completion of assessment to bar filing of revised return, rules HC
Tenet Tax Daily March 20 2015
Losses under the head capital gains won’t be set-off and carry forward in case of amalgamation and demerger
Tenet Tax Daily March 19 2015
Exp. on maintenance of I-T system during restructuring of Co. was an allowable revenue exp.
Tenet Tax Daily March 18 2015
Director, being in charge of Co., was liable for offence committed by Co. even if he didn’t receive separate notice
Tenet Tax Daily March 17 2015
No addition on basis of remand report by AO if he failed to verify authenticity of facts on merits
Tenet Tax Daily March 16 2015
CIT(A) can enhance tax liability in an appeal preferred by assessee after issuing show cause notice to assessee
Tenet Tax Daily March 14 2015
HC upheld concealment penalty on failure of assessee to provide details of donees showing receipts of bogus gift
Tenet Tax Daily March 13 2015
Tax dues of partnership firm can’t be adjusted against refund to partner in his personal capacity
Tenet Tax Daily March 12 2015
Ad-hoc sec. 40(a)(ia) disallowance made as books didn’t show true state of affairs on job charges paid to affiliate
Tenet Tax Daily March 11 2015