Tenet Tax Daily April 23 2018
AO couldn’t deny set off of unabsorbed dep. and brought forward business loss against income from other sources
No reassessment after 4 year merely on ground of non-deduction of TDS if all material facts were disclosed
Tenet Tax Daily April 21 2018
Statement furnished during appellate proceedings to justify diff. in Form 26AS & ITR can be admitted by CIT(A)
Tenet Tax Daily April 20 2018
Payment made to foreign co. for outright purchase of copyrights & technical know-how couldn’t be taxed as royalty
Tenet Tax Daily April 19 2018
No exemption if agricultural land inherited from father was sold after converting it into residential plots
Tenet Tax Daily April 18 2018
Rental income taxable as business income if assessee has shut down its main business activity
Tenet Tax Daily April 17 2018
HC set-aside sec. 271(1)(c) notice issued after expiry of prescribed limitation period
Tenet Tax Daily April 16 2018
No reassessment just because ITR wasn’t reflecting in IT system of dept. if it was filed manually by assessee
Tenet Tax Daily April 14 2018
Co. solely performing marketing & distribution of Computerized Reservation System of Foreign Co. rightly held as PE
Tenet Tax Daily April 13 2018
Sum paid to Singaporean Co. for rendering global support services not taxable as per Article 12: Mumbai ITAT
Tenet Tax Daily April 12 2018
Salary paid in India to employee deputed abroad for rendering services not taxable in India: AAR
Tenet Tax Daily April 11 2018
No TDS on reimbursement of expenses if it had no income element: HC
Tenet Tax Daily April 10 2018
No penalty order if notice didn’t specify whether it was case of concealment or furnishing inaccurate income
Tenet Tax Daily April 09 2018
Delay in filing ITR to be condoned for HUF if same was allowed to Karta in identical circumstances: HC
Tenet Tax Daily April 07 2018
Commission paid to NR for services rendered outside India not liable to tax even after withdrawal of Circular No. 23
Tenet Tax Daily April 06 2018
No capital gain on family settlement if property wasn’t transferred to assessee as per will of deceased person
Tenet Tax Daily April 05 2018
No sec. 263 revision if due enquiry made regarding non-taxability of income earned outside India by PWC USA
Tenet Tax Daily April 04 2018
AO to pass draft assessment order before passing a final one in pursuance of Sec. 144C: ITAT
Tenet Tax Daily April 03 2018