Tenet Tax Daily March 18 2020
Assets received under scheme of amalgamation and earlier disallowed by Assessing Officer to be re-examined on the basis of Auditor’s Report
HC fixed onus on assessee to bring relevant documentary evidence to show that liability had not ceased in eye of law so as to attract section 41(1)
Tenet Tax Daily March 17 2020
Donor not to be denied deduction if at time of giving donation research institute had a valid approval which was subsequent withdrawn
Tenet Tax Daily March 16 2020
Failure on part of employer to deposit full amount of employees contribution towards PF and ESI within prescribed due date – deduction under section 36(1)(va) disallowed
Tenet Tax Daily March 14 2020
Banking companies not required to apply the provisions of section 115JB
Tenet Tax Daily March 13 2020
Expenses separately claimed again by Partner against income received from partnership firm disallowed
Tenet Tax Daily March 12 2020
Compensation paid in respect of land taken on lease pursuant to proceedings under Land Acquisition Act to be allowed as revenue expenditure only after examining lease agreement
Tenet Tax Daily March 11 2020
Addition made on estimate basis was to be set aside
Tenet Tax Daily March 10 2020
Capital receipt includes income from sale of Carbon Credit Certificates
Tenet Tax Daily March 09 2020
Direction given for initiating reassessment proceedings after expiry of period of limitation to be set aside
Tenet Tax Daily March 07 2020
Penalty upheld where TDS was not deposited by stating financial crunch as reason for non-deposit
Disallowance made without considering submissions of assessee requires matter to be remanded back: ITAT
Tenet Tax Daily March 05 2020
Loss incurred by wife in business started through receipt of gifts from assessee husband was liable to be clubbed in hands of assessee
Tenet Tax Daily March 04 2020
Non consideration of reasons given by assessee and binding decisions of Courts and Tribunals referred in the context of deduction of tax u/s 194C and not 194J would make the entire proceedings vitiated for breach of natural justice
Tenet Tax Daily March 03 2020
Provision made for bad debt in the books allowable as deduction under section 36(1)(vii)
Tenet Tax Daily March 02 2020
Reason to believe not to be constituted as ‘change of opinion’ in case original assessment order was silent on the issue for which reopening of the assessment was ordered
Tenet Tax Daily February 29 2020
No depreciation allowable in case WDV of asset is NIL or the block of asset ceases to exist on last date of previous year
Tenet Tax Daily February 28 2020