Tenet Tax Daily June 30 2015
Income of foreign company from hiring of equipments and rendering services to entities engaged in oil exploration in India to be taxed under section 44BB
Issue of shares by assessee at premium to its Mauritius AE did not give rise to income from an international transaction
Tenet Tax Daily June 29 2015
Sec. 10A relief denied on software development units on failure of assessee to prove that they were independent units
Tenet Tax Daily June 27 2015
Order of Commissioner (Appeals) arriving at a conclusion that provisions of article 5 of DTAA of Indo-Netherland were not applicable without discussing actual work done by assessee required readjudication
Tenet Tax Daily June 26 2015
CIT(A) has inherent power to grant stay on demand if appeal is pending before him, says ITAT
Tenet Tax Daily June 25 2015
Assessing Officer could not arbitrarily reject assessee’s claim for depreciation on purchase of windmills taking a view that cost of said windmills had been inflated
Tenet Tax Daily June 24 2015
Where in the assessment made under section 143(3) assessee had brought entire relevant evidence on record, Assessing Officer could not initiate reassessment proceedings merely on basis of change of opinion
Tenet Tax Daily June 23 2015
Waiver of loan by bank as one time settlement did not result in revenue receipt which could be brought to tax under section 28(iv)
Tenet Tax Daily June 22 2015
Remittance of funds by NR to India out of incomes accrued outside India aren’t taxable in India
Tenet Tax Daily June 20 2015
Assessee engaged in production and export of textiles installed one windmill for a separate business of generation of power would be eligible for additional depreciation on windmill under section 32(1)(iia)
Tenet Tax Daily June 19 2015
Payments made to foreign parties for monitoring and supervision of discharged cargo was not taxable in India as fee for technical services – retrospective amendment brought to section 9(1)(vii) by Finance Act, 2010 was not in existence at time when payments were made
Tenet Tax Daily June 18 2015
Receipt of sum from a foreign company engaged in exploration and production of oil in oil fields of India and claiming the same to be reimbursement of actual cost without being able to establish one to one nexus between services rendered and alleged reimbursement would entail assessee’s receipts to be taxed under section 44BB
Tenet Tax Daily June 17 2015
Reimbursement of debtor collection charges to US based by assessee who had made direct payment to payee would not fall within ambit of ‘fee for technical services’ and assessee was not required to deduct tax at source while making payment in question
Tenet Tax Daily June 16 2015
Amount received towards supply of software embedded in hardware did not amount to ‘royalty’ under section 9(1)(vi)
Tenet Tax Daily June 15 2015
High Court critical of ITAT for passing order on basis of docs and evidences not presented before AO or CIT(A)
Tenet Tax Daily June 13 2015
CIT(A) gets flak from ITAT for holding that assessee didn’t have PE in India as per DTAA without giving reasons
Tenet Tax Daily June 12 2015
Assessment in name of amalgamating co. was invalid as it ceased to exist after amalgamation
Tenet Tax Daily June 11 2015
Sum incurred towards leasehold improvements in a rented premise is a revenue exp.
Tenet Tax Daily June 10 2015