Tenet Tax Daily July 28 2018
Profit from investment held as capital gains in earlier years can’t be treated differently in subsequent year
No sec. 68 additions if assessee duly produced returns of firms showing his profit share
Tenet Tax Daily July 26 2018
Interest awarded on enhanced compensation paid for compulsory acquisition of agriculture land not taxable
Tenet Tax Daily July 27 2018
Assessment order dispatched by AO tantamounts to passing of order; SetCom application not maintainable
Tenet Tax Daily July 25 2018
No TDS from fees paid under Security Lending Scheme as payer wasn’t aware of lender’s identity
Tenet Tax Daily July 24 2018
Inland Haulage Charge is income from shipping operations; exempt as per Article 9 of India-France DTAA
Tenet Tax Daily July 23 2018
No denial of sec. 35AD deduction just because there was delay in awarding star certificate to hotel
Tenet Tax Daily July 21 2018
Reassessment on basis of info. from investigation wing that assessee received accommodation entries was justified
Tenet Tax Daily July 20 2018
Support and service fees not taxable as FTS as it didn’t satisfy make available clause
Tenet Tax Daily July 19 2018
Registration deemed to be granted if CIT failed to dispose off sec. 12AA application within 6 months: ITAT
Tenet Tax Daily July 18 2018
AO couldn’t issue second reassessment notice without withdrawing first one: Gujarat HC
Tenet Tax Daily July 17 2018
Reassessment rightly initiated as assessee failed to prove source of cash paid for purchase of land
Tenet Tax Daily July 16 2018
ITAT couldn’t levy minimum penalty other than what was prescribed in statutory provisions: HC
Tenet Tax Daily July 14 2018
AO wasn’t justified in substituting value of goodwill with trademark if there was no basis to substitute it
Tenet Tax Daily July 13 2018
Reassessment on basis of disallowance in succeeding years was unjustified if there was no disclosure failure
Tenet Tax Daily July 12 2018
Objection couldn’t be raised before CIT(A) if it wasn’t raised before AO in reassessment proceedings
Tenet Tax Daily July 11 2018
Deemed dividend provisions couldn’t be applied on business transactions between shareholders & Co.
Tenet Tax Daily July 10 2018