Tenet Tax Daily June 21 2017
Exp. incurred on construction of houses for the people affected by floods wasn’t allowable
Sec. 50C couldn’t be applied if no circle rate was prescribed by stamp valuation authorities: ITAT
Tenet Tax Daily June 28 2017
Purchase of goods as per given specification isn’t a works contract without supply of material to seller
Tenet Tax Daily June 27 2017
Funds were to be taxed in hands of investors if revocable contributions were made to trust
Tenet Tax Daily June 26 2017
Loss incurred on sale of foreign cars used in business without claming dep. would be treated as business loss: HC
Tenet Tax Daily June 24 2017
Matter remanded to decide whether sum paid to Singaporean Co. for providing advice & guidelines was taxable in India
Tenet Tax Daily June 23 2017
Loss incurred under forward exchange contracts was allowable business exp. as it wasn’t a speculative loss
Tenet Tax Daily June 22 2017
Reimbursement of travel exp. to NR for its employee deputed in India providing technical assistance wasn’t ‘FTS’
Tenet Tax Daily June 20 2017
Appeal before CIT was to be admitted on basis of original return if revised return wasn’t a valid return
Tenet Tax Daily June 19 2017
Limitation of relief clause can’t be invoked to deny exemption on sale of debt instrument by Singaporean Co.
Tenet Tax Daily June 17 2017
Payment for software license for internal use without any permit to alter it can’t be held as royalty: ITAT
Tenet Tax Daily June 16 2017
Payment made for package of designs and drawings couldn’t be treated as royalty
Tenet Tax Daily June 15 2017
Payment made to UK based company for consultancy charges for rendering designing services rightly treated as ‘FTS’
Tenet Tax Daily June 14 2017
No sec. 263 revision on ground that AO allowed CSR exp. without mentioning about it in assessment order
Tenet Tax Daily June 13 2017
Provident fund established under scheme framed under EPF Act does not require commissioners approval: ITAT
Tenet Tax Daily June 12 2017
ITAT denied ‘Pass through’ status to trust as its beneficiaries were unknown
Tenet Tax Daily June 10 2017
No reassessment after 4 years to treat slump sale otherwise if assessee had disclosed all facts during assessment
Tenet Tax Daily June 09 2017