Tenet Tax Daily June 28 2019
Having an Agreement with related party is not enough to claim allowance of Research & advisory fees
Assessee unable to justify excessive premium over face value of shares – Reassessment justified: HC
Tenet Tax Daily June 27 2019
Capital expenditure – Expenditure on improvement of leasehold building is not revenue expenditure but capital in nature
Tenet Tax Daily June 26 2019
Section 69 additions deleted since assessee explained source of advance rental income
Tenet Tax Daily June 25 2019
No disallowance of share trading loss if all transactions were carried on stock exchange
Tenet Tax Daily June 24 2019
US based private investment group making Investment with Govt. approval cannot be treated as a sham transaction
Tenet Tax Daily June 22 2019
If assessee is step-down subsidiary of a Public Co. listed on the stock Exchange there will be no angel tax
Tenet Tax Daily June 21 2019
Revisional order upheld since AO failed to verify correctness of books of account
Tenet Tax Daily June 20 2019
Withdrawing any sum from bank a/c provisionally attached can be made only after AO has issued a notice regarding the same: HC
Tenet Tax Daily June 19 2019
Valuation certificate prescribes only minimum sum to be collected – there is no restriction on collecting a higher share premium
Tenet Tax Daily June 18 2019
Prppert held by co-owners cannot be treated as property owned only by assessee while for relief u/s 54F: ITAT
Tenet Tax Daily June 17 2019
Deduction of unrecovered advances written off disallowed as assessee couldn’t substantiate his claim
Tenet Tax Daily June 15 2019
If there was no failure on part of assessee to disclose material facts reassessment after 4 years is not valid: HC
Tenet Tax Daily June 14 2019
Penalty u/s 271AAB not to be imposed in case income surrendered during search didn’t result in undisclosed income
Tenet Tax Daily June 13 2019
In case of difference in level of capacity utilization by assessee, capacity adjustment was necessary as per Rule 10B
Tenet Tax Daily June 12 2019
Payment received on transfer of copyrighted software is not royalty: ITAT
Tenet Tax Daily June 11 2019
Pending Govt. approval for R&D facility – Claim made towards weighted deduction u/s 35(2AB) allowable
Tenet Tax Daily June 10 2019
Legal heirs are not bound by the notice issued in name of deceased person: ITAT
Tenet Tax Daily June 07 2019