tenet-tax-daily-november-07-2016
AO rightly raised demand on deductor on its failure to apply 20% TDS rate when payee had furnished wrong PAN: ITAT
No penalty for non-disclosure of ‘FTS’ if its taxability was determined by AO after interpreting DTAA
tenet-tax-daily-november-05-2016
Allotment of shares in public issue and their sale couldn’t be held as speculative business
tenet-tax-daily-november-04-2016
Application for sec. 10(23C) relief can be made even prior to April 1 of AY for which exemption is sought
tenet-tax-daily-november-03-2016
No reassessment on basis of DVO’s report if assessee had shown all bills for construction cost at assessment stage
tenet-tax-daily-november-02-2016
Legal charges paid to UK firm for setting-up of bank branch outside India wasn’t royalty: ITAT
tenet-tax-daily-november-01-2016
Electric bikes assembled from parts procured from China held as manufacturing for sec. 80-IC relief
tenet-tax-daily-october-31-2016
No tax recovery from purchaser when bank had sold mortgaged property without sharing proceeds with tax dept.
tenet-tax-daily-october-29-2016
No disallowance of scientific research exp. just because benefit of research not shown in relevant year
tenet-tax-daily-october-28-2016
TP provisions aren’t applicable on transactions between Indian head office and foreign branch
tenet-tax-daily-october-27-2016
High Court disallows travel exp. of wife who went with director on business tour
tenet-tax-daily-october-26-2016
Working capital is one of the important factors for comparable study under transfer pricing
tenet-tax-daily-october-25-2016
Where AO erred in determining status of assessee, CIT(A) had jurisdiction to go into such issue: HC
tenet-tax-daily-october-24-2016
AO couldn’t reopen case merely on basis of opinion of audit party that there was discrepancy in turnover
tenet-tax-daily-october-22-2016
HC couldn’t remand matter to examine creditors when there was fraudulent practice of name lending: Apex Court
No deduction of forex loss on loans granted to AE as assessee failed to prove that it was utilized for business of AE
tenet-tax-daily-october-20-2016
Mere installation of turbine won’t lead to setting-up of new industrial unit for sec. 80-IA relief
tenet-tax-daily-october-19-2016
No penalty due to delay in filing TDS return as it was first year of introduction of e-TDS return
tenet-tax-daily-october-18-2016