Tenet Tax Daily April 28 2015
No agency PE under India-France DTAA even if agent is wholly dependent on foreign Co. unless transaction isn’t at ALP
TP adjustment is to be made only in respect of purchases made from AE and not from unrelated parties
Tenet Tax Daily April 27 2015
Timely service of sec. 143(2) notice is mandatory and not only a mere procedural requirement
Tenet Tax Daily April 24 2015
Penalty leviable if assessee didn’t add back depreciation charged under Companies Act in computation of income
Tenet Tax Daily April 23 2015
No disallowance for cash payment for purchase of gold bars held as investment – ITAT
Tenet Tax Daily April 21 2015
Assessment order quashed as revenue failed to prove that it was dispatched in time with demand notice
Tenet Tax Daily April 20 2015
Sum received towards installation of mobile antenna on terrace was taxable as income from house property
Tenet Tax Daily April 18 2015
Usance charges paid to NR on import purchases would be considered as an interest; liable to TDS
Tenet Tax Daily April 17 2015
TP norms would not put fetters on selection of foreign comparables if Indian Cos didn’t satisfy test of comparability
Tenet Tax Daily April 16 2015
NR rendering support services to Indian affiliate via seconded employees constituted its service PE in India
Tenet Tax Daily April 15 2015
AMP exp. incurred on brand promotion of foreign AE would attract TP provisions
Tenet Tax Daily April 14 2015
Capital gain accrues on relinquishment of rights in land to developer to get constructed area
Tenet Tax Daily April 13 2015
Case restored to AO as additional evidence filed before ITAT was relevant to decide allowability of impugned exp.
Tenet Tax Daily April 11 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 April 10 2015
Sec. 234C interest to be computed considering date of presentation of cheque of tax payments & not its clearing date
Tenet Tax Daily April 09 2015
Allotment of flats under self financing scheme of DDA has to be deemed as construction of house for sec. 54F relief
Tenet Tax Daily April 08 2015
Sum paid on testing of ultrasonic meter wasn’t FTS as it didn’t satisfy make available clause of India-USA DTAA
Tenet Tax Daily April 07 2015