Tenet Tax Daily August 06 2015
Cap gain of inherited asset is to be computed by taking CII of the year in which asset is acquired by previous owner
Preoperative exp. incurred to expand existing business was revenue exp.
Tenet Tax Daily August 05 2015
No denial of sec. 80-IC relief due to non-maintenance of separate books for manufacturing carried on job work basis
Tenet Tax Daily August 04 2015
Submission of affidavit of gift received from spouse didn’t explain source of investments found in search
Tenet Tax Daily August 03 2015
Cement bags are taxable separately as it is established that sale of cement and bags are separate transaction
Tenet Tax Daily August 01 2015