Tenet Tax Daily September 30 2017
No increase in ALV of property if interest-free loan was taken prior to tenancy
Sec. 264 revision couldn’t be allowed if recovery proceedings were initiated against assessee: HC
Tenet Tax Daily September 29 2017
Failure to pass draft assessment order before passing final order would lead to withdrawal of final order: ITAT
Tenet Tax Daily September 28 2017
No reassessment on basis of mere change of opinion by AO to deny exemption under sec. 10B
Tenet Tax Daily September 27 2017
Software payments can’t be held as royalty if payer doesn’t have any right of modification: ITAT
Tenet Tax Daily September 26 2017
Prior to AY 2013-14, there was no need to furnish TRC to claim treaty benefits: Bombay High Court
Tenet Tax Daily September 25 2017
TP adjustment couldn’t be made just because assessee had availed only certain services out of bunch of services
Tenet Tax Daily September 23 2017
Sec. 206AA couldn’t be invoked if TDS was deducted as per provisions of DTAA: ITAT
Tenet Tax Daily September 22 2017
Police was justified in releasing seized cash in absence of any requisition issued by IT dept.
Tenet Tax Daily September 21 2017
Sale commission couldn’t be disallowed if invoice raised contained sum payable after recovery of commission
Tenet Tax Daily September 20 2017
No denial of sec. 54 relief just because JDA was entered into to build commercial complex on newly acquired house
Tenet Tax Daily September 19 2017
No tax on Income from shipping remitted outside Singapore if it was taxable therein on accrual basis
Tenet Tax Daily September 18 2017
Non-AE domestic transaction couldn’t be considered for computing income of international transaction
Tenet Tax Daily September 16 2017
Sum paid to retain shareholding in a co. was an investment eligible for deduction under sec. 57
Tenet Tax Daily September 15 2017
Exp. incurred by assessee engaged in business of setting-up of new hotel was allowable u/s 37(1): ITAT
Tenet Tax Daily September 14 2017
Order couldn’t be said to be prejudicial if AO had taken one of two possible views, HC quashed sec. 263 revision
Tenet Tax Daily September 13 2017
Appeal against earlier ITAT order could be filed from second order if second order made reference of earlier order
Tenet Tax Daily September 12 2017
Matter remanded to check legitimacy as assessee was engaged in large no. of purchases & sales of agricultural land’s
Tenet Tax Daily September 11 2017