Tenet Tax Daily April 02 2016
ITAT allows tax credit for dividend tax foregone by Oman to promote economic developments
Provision allowing trust to either claim depreciation or cost of asset is applicable prospectively
Tenet Tax Daily April 01 2016
TPO had to consider revised Form 3CEB, filed after one year from end of AY, if it includes proper comparable
Tenet Tax Daily March 31 2016
‘Liaison Office’ of ‘Kawasaki’ didn’t constitute its PE in India as it wasn’t involved in core business activity
Tenet Tax Daily March 30 2016
Comparable selected by assessee couldn’t be rejected without carrying out its functional comparability
Tenet Tax Daily March 29 2016
Disclosure of income in notes to accounts instead of P&L A/C won’t be deemed as furnishing of inaccurate particulars
Tenet Tax Daily March 28 2016
Sum paid on encroachment of extra space on leased land couldn’t be said to be an offence; allowable as business exp.
Tenet Tax Daily March 26 2016
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