Tenet Tax Daily July 05 2016
ITAT taxes salary received in India; dismisses employee’s claim of having received salary on high seas
NO TDS liability on software purchases on basis of retro-amendment in definition of ‘royalty’
Tenet Tax Daily July 04 2016
Refund couldn’t be denied just because scrutiny notice was served; HC quashed CBDT’s instruction
Tenet Tax Daily July 02 2016
Commission paid to foreign agent for procuring export orders wouldn’t attract TDS under sec. 195
Tenet Tax Daily July 01 2016
No denial of indexation benefit at assessment stage just because long-term capital gain wasn’t declared in ITR
Tenet Tax Daily June 30 2016
Factoring charges couldn’t be treated as interest to attract TDS under sec. 194A: HC
Tenet Tax Daily June 29 2016
Loss from dealing in mutual funds couldn’t be treated as loss from speculative business
Tenet Tax Daily June 28 2016
No tax on supply of equipment by foreign Co. just because installation work was done by its Indian subsidiary
Tenet Tax Daily June 27 2016
CIT(A) can’t dismiss an appeal merely on ground of non-appearance
Tenet Tax Daily June 25 2016
Cash paid to commission agent for facilitating transaction with framers won’t attract sec. 40A(3) disallowance
Tenet Tax Daily June 24 2016
Revenue generated from sale of carbon credit is capital receipt not liable to tax: HC
Tenet Tax Daily June 23 2016
Sum received by US Co. for services in connection with prospecting for mineral oils is taxable u/s 44BB
Tenet Tax Daily June 22 2016
Reimbursement of salary of seconded employees to AE couldn’t be treated as ‘FTS’ to attract TDS under sec. 194J
Tenet Tax Daily June 21 2016
No reassessment after 4 years if all material facts were disclosed by assessee during original assessment
Tenet Tax Daily June 20 2016
No concealment penalty could be imposed just because an expenditure was disallowed due to TDS default
Tenet Tax Daily June 18 2016
ITAT removes effect of cost reimbursed from AE as comparable wasn’t getting any reimbursement for its services
Tenet Tax Daily June 17 2016
Exp. incurred to replace various parts of machinery treated as revenue exp. as no new asset brought into existence
Tenet Tax Daily June 16 2016