Tenet Tax Daily January 30 2016
Failure of assessee to prove that NR-agent has no PE in India leads to disallowance of commission for TDS default
Tribunal can’t reverse its order in guise of rectification
Tenet Tax Daily January 29 2016
Failure to serve notice can be cured by Sec. 292BB but not failure to issue notice
Tenet Tax Daily January 28 2016
Pen drive, networking equipment and printers are part of computer system; eligible for 60% depreciation
Tenet Tax Daily January 27 2016
Export commission paid to NR agent via banking channel couldn’t treated as unverifiable; allowable
Tenet Tax Daily January 26, 2016
Sum paid to AE to make good its forex losses can’t be treated as management fee
Tenet Tax Daily January 25 2016
Income initially disclosed before SetCom couldn’t be said to be concealed if additions were made due to TP provisions
Tenet Tax Daily January 23 2016
Cost of improvement disallowed as assessee failed to establish that renovation was carried out in flat
Tenet Tax Daily January 22 2016
ITAT had to remand back case instead of appreciating the facts itself if CIT(A) didn’t confront assessee with new facts
Tenet Tax Daily January 21 2016
Sum paid to sisters to acquire absolute title to property held as exp. in connection with transfer
Tenet Tax Daily January 20 2016
Co. rendering agency services to its foreign Head Office had to allocate exp. on basis of GP ratio instead of turnover
Tenet Tax Daily January 19 2016
ITAT affirms sanctity of CA certificate; denies to impose penalty for TDS default relying upon such certificate
Tenet Tax Daily January 18 2016
Indian agent procuring ad air time for National Geographic & Fox Channel held as agency PE of foreign Co.
Tenet Tax Daily January 16 2016
No reassessment on basis of info supplied by DGIT (Investigation) without any details available on record
Tenet Tax Daily January 15 2016
Co. whose directors were facing charges of fraud couldn’t be accepted as comparable for TP study
Tenet Tax Daily January 14 2016
Exp. incurred by solicitor on medical treatment of his eyes is personal expense; disallowable
Tenet Tax Daily January 13 2016
A Co. can’t be excluded from list of comparables merely on ground of low turnover
Tenet Tax Daily January 12 2016
Officer can have a Camp Office at taxpayer’s house to examine him on oath after search and seizure
Tenet Tax Daily January 11 2016