Tenet Tax Daily January 24 2018
Sum paid for obtaining approval from diff. authorities to purchase business unit of a co. was capital in nature
Delhi ITAT granted stay of penalty proceeding against ‘Oracle’ during pendency of appeal
Tenet Tax Daily January 23 2018
No refusal of interest waiver application just because Co. challenged notice issued by dept. attaching Bank a/c
Tenet Tax Daily January 22 2018
Mumbai ITAT allowed deduction of legal expenses incurred to safeguard business interest
Tenet Tax Daily January 20 2018
Sum paid by ‘UTV’ to cable operators for airing of channels on agreed frequencies was liable to sec. 194C TDS
Tenet Tax Daily January 19 2018
Penalty u/s 271AAB on undisclosed income is automatic in nature: Kolkata ITAT
Tenet Tax Daily January 18 2018
Cost of goods ordered to be destroyed as per prevention of Food Alteration Act not allowed as deduction
Tenet Tax Daily January 17 2018
Refund couldn’t be denied just because scrutiny notice was served: Madras HC
Tenet Tax Daily January 16 2018
Exp. incurred on director education not deductible without his commitment to serve co. post-education
Tenet Tax Daily January 15 2018
AO couldn’t assess any other income if initial reason to believe of escaped income was just a matter of fact
Tenet Tax Daily January 13 2018
Revaluation surplus paid to retiring partners isn’t distribution of capital asset; firm not liable to tax
Tenet Tax Daily January 12 2018
Madras HC quashed reopening of assessment initiated on mere change of opinion against ‘Karti Chidambaram’
Tenet Tax Daily January 11 2018
Ownership of land on which building is constructed isn’t necessary to taxing rental income as house property income
Tenet Tax Daily January 10 2018
Reassessment justified as foreign co. failed to give segregated details of its receipts from outside & inside India
Tenet Tax Daily January 09 2018
HC directs Appellate Authorities to not to go into question of validity of search till pendency of SC decision
Tenet Tax Daily January 08 2018
AO couldn’t ask assessee to furnish ‘source of source’ to assess income under sec. 68: HC
Tenet Tax Daily January 06 2018