Tenet Tax Daily November 13 2015
Rent not to be held as benefit/perquisite just because spouse had substantial interest in lessee-Co.
Default period of assessee-in-default shall be counted as per British Calendar month
Tenet Tax Daily November 12 2015
Corporate guarantee given to AE by charging 0.5% as service fee doesn’t call for TP adjustment
Tenet Tax Daily November 11 2015
Freight to C&F agent wasn’t reimbursement and liable to TDS as agent didn’t made TDS while making payment to Airlines
Tenet Tax Daily November 10 2015
Commission paid to NR for advising on product trend in USA isn’t taxable as services were rendered outside India
Tenet Tax Daily November 09 2015
Capital gains on gifted asset shall be computed by taking CII of year in which asset held by previous owner
Tenet Tax Daily November 07 2015
No incurrence of exp. on services provided by assessee proved that it had outsourced services to AE; No. TP adjustment
Tenet Tax Daily November 06 2015
Unexplained Jewellery placed in locker shall be assessed in year of opening of locker by revenue
Tenet Tax Daily November 05 2015
No deduction of brokerage paid for procuring tenant as standard deduction under sec. 24 covers all exp.
Tenet Tax Daily November 04 2015
TP: Assessment order set aside as AO made final assessment without forwarding copy of draft assessment order
Tenet Tax Daily November 03 2015
Civil court has no jurisdiction to entertain suit against I-T department without any allegation of fraud
Tenet Tax Daily November 02 2015
AO gets flak from HC for non-supply of reasons indicating escapement of income
Tenet Tax Daily October 31 2015
ITAT direct to examine whether AO was in possession of original return when reassessment notice was issued
Tenet Tax Daily October 30 2015
Division bench of ITAT can’t examine legal issue while giving effect to majority view
Tenet Tax Daily October 29 2015
Chief CIT rightly ordered forfeiture of bidding amount on failure of petitioner to pay entire amount within time
Tenet Tax Daily October 28 2015
Interim award received in pursuance of order of HC couldn’t be taxed until final decision of HC was pronounced
Tenet Tax Daily October 27 2015
Non-withdrawal of allegations against counsel after agreeing to withdraw such charges is contempt of Court
Tenet Tax Daily October 26 2015
Fee paid for conducting market research & advising on new technological developments in China is FTS
Tenet Tax Daily October 24 2015