Tenet Tax Daily June 10 2017
ITAT denied ‘Pass through’ status to trust as its beneficiaries were unknown
No reassessment after 4 years to treat slump sale otherwise if assessee had disclosed all facts during assessment
Tenet Tax Daily June 09 2017
Income couldn’t be said to have escaped if ledger found during search was already examined in regular assessment
Tenet Tax Daily June 08 2017
ITAT remanded matter as assessee claimed that suo moto disallowance made u/s 14A was due to mistake
Tenet Tax Daily June 07 2017
Margin of a company having closing year other than of assessee not to be treated as comparable
Tenet Tax Daily June 06 2017
ITAT allowed deduction of warranty on actual as well as provisional basis as same wasn’t case of double deduction
Tenet Tax Daily June 05 2017
Brokerage, legal expenses and bank charges are not deductible while calculating annual rental value of property
Tenet Tax Daily June 03 2017
ITAT remanded matter back to AO as assessee failed to submit evidence for delay in submission of TDS statement
Tenet Tax Daily June 02 2017
TPO should assign reasons explaining differences in FAR analysis of comparable to reject them in relevant year
Tenet Tax Daily June 01 2017
TP adjustment on royalty was valid as assessee was unable to justify aggregation of royalty with other transaction
Tenet Tax Daily May 31 2017
TP adjustment on royalty was valid as assessee was unable to justify aggregation of royalty with other transaction
Tenet Tax Daily May 31 2017
Matter remanded by Tribunal as TPO rejected CUP method applied by assessee without assigning any reason
Tenet Tax Daily May 30 2017
No interest on loan could be added to income if interest was waived off on ground of commercial expediency
Tenet Tax Daily May 29 2017
Resale of goods purchased from AE to be benchmarked at RPM even if assessee was full-fledged distributor of goods
Tenet Tax Daily May 27 2017
No penalty on late filing of audit report if it was duly submitted before completion of assessment: ITAT
Tenet Tax Daily May 26 2017
ITAT remanded matter to verify mismatch found in bank account and books towards transport payments
Tenet Tax Daily May 25 2017
ITAT remanded matter to examine certificate issued by authority specifying aerial distance of land from municipality
Tenet Tax Daily May 24 2017
Section 72A doesn’t prohibit amalgamation of two companies suffering from losses: HC
Tenet Tax Daily May 23 2017