Tenet Tax Daily May 17 2019
No reassessment if AO failed to prove that notice was served upon assessee: ITAT
Sec. 12AA registration couldn’t be rejected just because society didn’t carry out charitable activities
Tenet Tax Daily May 16 2019
Sec. 41(1) couldn’t be invoked if existence of liabilities was doubted: HC
Tenet Tax Daily May 15 2019
No additions if AO didn’t find assets surrendered by assessee in statement made during search: HC
Tenet Tax Daily May 14 2019
Interest received on enhanced compensation for acquisition of agricultural land is exempt u/s 10(37)
Tenet Tax Daily May 13 2019
Loans given for construction of individual residential houses won’t make bank eligible for sec. 36(1)(viii) relief
Tenet Tax Daily May 10 2019
Reassessment on basis of info. that bogus accommodation entries were received by way of share capital justified
Tenet Tax Daily May 09 2019
Writ petition couldn’t be filed if assessee had the remedy to go in for appeal
Tenet Tax Daily May 08 2019
Exp. incurred by Dharma Productions on publicity of film after getting censor board certification allowed u/s 37
Tenet Tax Daily May 07 2019
No rectification u/s 154 is permissible once order passed by CIT(A) is accepted by income-tax department
Tenet Tax Daily May 06 2019
Liquidated damages to finance co. is ‘interest’ income eligible to section 10(23G) exemption
Tenet Tax Daily May 04 2019
Section 56(2)(viib) applies in the year in which shares are allotted and not when application money is received
Tenet Tax Daily May 03 2019
Writ petition could be filed against reassessment order passed without hearing assessee
Tenet Tax Daily May 02 2019
Payment gateway charges paid by Make My Trip to banks couldn’t be treated as commission to attract TDS u/s 194H
Tenet Tax Daily May 01 2019
Amendment to sec. 115BBE denying set off of losses from deemed income is prospective in nature
Tenet Tax Daily April 30 2019
No penalty u/s 158BFA if income disclosed during search by assessee doesn’t exceed the income determined by AO
Tenet Tax Daily April 29 2019
Subsidy received from foreign joint venture partner to contribute in joint venture co. was a capital receipt
Tenet Tax Daily April 27 2019