Tenet Tax Daily May 22 2017
Assessee wasn’t entitled to compounding of offence if notice was issued for same offence in earlier year: HC
Capital gains to be taxed in year of execution of sale deed and not in year of registration of sale deed
Tenet Tax Daily May 20 2017
Where assessee made payment to non-resident for rendering logistic services, since said services did not involve any technical skill, expertice or transfer of technical knowledge, payment in question would not fall within ambit of fee for technical services under section 9(1)(vii)
Tenet Tax Daily May 19 2017
ITAT confirmed sec. 69C additions relating to bogus purchase invoices received without actual delivery of goods
Tenet Tax Daily May 18 2017
Sec. 263 revision was valid if AO passed reassessment order without making proper inquiry: HC
Tenet Tax Daily May 17 2017
AO couldn’t complete assessment based on original return if revised return was filed before completion of assessment
Tenet Tax Daily May 16 2017
Cash seized from locker of wife, children added to assessee’s income as he failed to prove their earning capacity
Tenet Tax Daily May 15 2017
Additional evidence was to be admitted if it was relevant for calculating actual income: HC
Tenet Tax Daily May 13 2017
HC slams AO for invoking reassessment proceedings without disposing off assessee’s objections
Tenet Tax Daily May 12 2017
No sec. 41(1) deemed income when assessee writes off liability of vendor cos after outright purchase of business
Tenet Tax Daily May 11 2017
POEM of Foreign Shipping Co. wasn’t in India as all important decisions were taken from Denmark
Tenet Tax Daily May 10 2017
Sec. 69A additions upheld as assessee failed to prove that bedroom from where cash was seized belonged to his sister
Tenet Tax Daily May 09 2017
Reassessment by CIT was justified if AO accepted claim of depreciation without proper examination
Tenet Tax Daily May 08 2017
Commission paid to agent for providing liasoning services relating to govt. tender was allowable business exp.
Tenet Tax Daily May 06 2017
AO can issue direction for special audit even if he doesn’t possess books of account: HC
Tenet Tax Daily May 05 2017
No denial of registration to trust as activities of children home register with juvenile law couldn’t be doubted
Tenet Tax Daily May 04 2017
Grant of scholarship to deserving students to pursue higher studies was charitable in nature: HC
Tenet Tax Daily May 03 2017
AO couldn’t make adjustments other than those which were proposed in draft assessment order: HC
Tenet Tax Daily May 02 2017