Tenet Tax Daily January 09 2016
Sum paid by employer voluntarily to settle dispute on premature cessation of employment is tax free
Failure to serve notice can be cured by Sec. 292BB but not failure to issue notice
Tenet Tax Daily January 08 2016
Failure of assessee to prove that NR-agent has no PE in India leads to disallowance of commission for TDS default
Tenet Tax Daily January 07 2016
Pen drive, networking equipment and printers are part of computer system; eligible for 60% depreciation
Tenet Tax Daily January 06 2016
Settlement amount paid by firm on behalf of its partner couldn’t be treated as exp. in its hand
Tenet Tax Daily January 05 2016
Capital introduced from gifted money held as unexplained as donors didn’t have capacity to make gift
Tenet Tax Daily January 04 2016
Interest paid to NR on FCCB won’t accrue or arise in India if borrowed sum is utilized for overseas business
Tenet Tax Daily January 02 2016
Notice can be affixed at main door of assessee’s premises if he refuses to receive it
Tenet Tax Daily January 01 2016
Export commission paid to NR agent via banking channel couldn’t treated as unverifiable; allowable
Tenet Tax Daily December 31 2015
AO couldn’t impose penalty without bringing out any specific charge for its imposition
Tenet Tax Daily December 30 2015
Tribunal can’t reverse its order in guise of rectification
Tenet Tax Daily December 29 2015
Period of 30 days to be considered and not British Calendar month to calculate interest for delayed TDS payment
Tenet Tax Daily December 28 2015
Sec. 44BBA can’t be applied to tax presumptive income of foreign Airlines if it has produced books revealing losses
Tenet Tax Daily December 26 2015
No TDS liability on reimbursement of exp. incurred by C&F agent if separate bill was raised by him
Tenet Tax Daily December 25 2015
Payment made by hospital to doctors would not attract sec. 192 in absence of employer-employee relationship
Tenet Tax Daily December 24 2015
Delhi ITAT rejects bright line test to determine ALP of AMP exp; directs TPO to follow ratio of Sony Ericsson’s case
Tenet Tax Daily December 23 2015
AO can’t impose penalty under sec.271(1)(c) once penalty proceedings are initiated under sec. 271AAA
Tenet Tax Daily December 22 2015