Tenet Tax Daily July 16 2018
Reassessment rightly initiated as assessee failed to prove source of cash paid for purchase of land
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
Appeal couldn’t be barred by limitation in absence of evidence that ITAT’s order was served on revenue authority
Tenet Tax Daily July 09 2018
No reassessment after 4 years just because deduction u/s 80-IB was wrongly claimed by assessee
Tenet Tax Daily July 07 2018
ITAT justified rejection of sec. 10(23C) approval as primary object of society was non-educational activity
Tenet Tax Daily July 06 2018
AO couldn’t be said to have exceeded his jurisdiction while taxing excess share premium; HC dismissed SLP
Tenet Tax Daily July 05 2018
No question of law involved if lower authorities held that commission paid to directors wasn’t excessive: HC
Tenet Tax Daily July 04 2018
Sale consideration of copyrighted software couldn’t be taxed as royalty: Mumbai ITAT
Tenet Tax Daily July 03 2018
AO was justified in rejecting DCF method to calculate FMV of shares if no evidence was produced for validity of data
Tenet Tax Daily July 02 2018
No reassessment after 4 years if all material facts were disclosed by assessee during original assessment
Tenet Tax Daily June 30 2018
Payment to contractor engaged in collection of data which doesn’t mandate technical skills requires sec. 194C TDS
Tenet Tax Daily June 29 2018
Sum paid to Foreign Co. towards supervision & installation of pipes and fittings couldn’t be held as FTS
Tenet Tax Daily June 28 2018
Subsidy given by State Govt. on account of power consumption by new/expanded units was capital receipt
Tenet Tax Daily June 27 2018
ITAT allowed provision for warranty services created in accordance with inputs received from technical team
Tenet Tax Daily June 26 2018