Tenet Tax Daily March 26 2016
Sum paid on encroachment of extra space on leased land couldn’t be said to be an offence; allowable as business exp.
A Co. mainly outsourcing its work couldn’t be compared to a Co. rendering IT enabled services
Tenet Tax Daily March 25 2016
Public issue exp. disallowed by HC as amount raised through such issue wasn’t spent for capital expansion
Tenet Tax Daily March 24 2016
Waiver of interest could be denied on basis of CBDT’s order without considering previously issue notification
Tenet Tax Daily March 23 2016
SetCom wasn’t required to adjudicate Commissioner’s objection that full and true disclosure wasn’t made by assessee
Tenet Tax Daily March 22 2016
Delhi HC allows deduction of disputed licencse fee payable to NDMC
Tenet Tax Daily March 21 2016
Full credit of TDS shall be available if entire income is assessable in current year due to cash method of accounting
Tenet Tax Daily March 19 2016
ITAT could extend stay of demand beyond 365 days if delay in disposing of appeal wasn’t attributable to assessee
Tenet Tax Daily March 18 2016
Donor’s affidavit doesn’t prove sanctity of gift without examining identity and creditworthiness of donor
Tenet Tax Daily March 17 2016
Govt. co. couldn’t be selected as comparable for TP study
Tenet Tax Daily March 16 2016
Word ‘interest’ includes liquidated damages payable by borrower in case of default: HC
Tenet Tax Daily March 15 2016
ITAT allows film distributor to follow conservative method for valuation of closing stock instead of Rule 9B
Tenet Tax Daily March 14 2016
Sum paid for transportation of goods won’t attract sec. 194-I TDS if use of container was incidental
Tenet Tax Daily March 12 2016
Higher taxes couldn’t be recovered from assessee if he mistakenly reported his income on higher side
Tenet Tax Daily March 11 2016
Provision for re-delivery of leased aircraft doesn’t cease to be a liability if lease period is extended
Tenet Tax Daily March 10 2016
Capital gain exemption available on corporate reorganization and not on buy-back of shares under India-Netherland DTAA
Tenet Tax Daily March 09 2016
Advance given to foreign AE to acquire satellite rights of Hollywood movies isn’t an international transaction
Tenet Tax Daily March 08 2016