Tenet Tax Daily June 04 2016
Foreign travel exp. of director’s family allowed as family members met foreign vendors as ex-directors
CBDT clarifies that interest can’t be denied on refund of excess TDS deposited under Sec. 195
Tenet Tax Daily June 03 2016
Sum paid to foreign entities to download photographs from their websites won’t be treated as Royalty
Tenet Tax Daily June 02 2016
No penalty on ‘Aishwarya Rai’ for TDS default if she relied on her CA’s advice
Tenet Tax Daily June 01 2016
Transactions being import/inter-State trade and goods being used only in works contract, would be exempt under Delhi VAT
Tenet Tax Daily May 31 2016
No condonation of delay in filing appeal if assessee failed to reveal the source of wrong advice given by its counsel
Tenet Tax Daily May 30 2016
Sec. 143(1) intimation is regarded as an order for purposes of revision under sec. 264
Tenet Tax Daily May 28 2016
Sum paid to non-executive director for giving suggestion for better performance of Co. won’t be treated as commission
Tenet Tax Daily May 27 2016
Merely because there is a reference to name of assessee in seized documents, it does not mean that assessee is owner of those documents; to invoke section 153C there should be something in satisfaction note recorded by Assessing Officer to indicate that searched person had disclaimed those documents and documents did not belong to searched person but other third person
Tenet Tax Daily May 26 2016
No writ against CIT’s revisional order if alternate remedy of filing an appeal before ITAT was available to assessee
Tenet Tax Daily May 25 2016
Loan advanced to AE couldn’t be said to be for non-business purpose if assessee and its AE were in same business
Tenet Tax Daily May 24 2016
Addition made under sec. 40A(2) set aside as interest was paid to related party at prevailing market rate
Tenet Tax Daily May 23 2016
Non-compete fee being a business income won’t be taxable in India unless recipient has PE in India
Tenet Tax Daily May 21 2016
No tax on alimony received from ex-husband
Tenet Tax Daily May 20 2016
Sum received for supplying of data without making available any technology for its use won’t be taxed as royalty
Tenet Tax Daily May 19 2016
Fee for service which is inextricably linked to sale isn’t treated as fee for included services under Indo-US DTAA
Tenet Tax Daily May 18 2016
TP adjustment set aside as footwear sold from old stock by ‘Adidas’ were treated to be from new stock by TPO
Tenet Tax Daily May 17 2016