Tenet News Flash – Budget 2020 – Feb 01, 2020
Budget Highlights – 2020
Additions deleted upon examination of facts in support of credit in bank a/c – ITAT
Tenet Tax Daily January 30 2020
Mere issuance of a show-cause notice cannot be equated and treated as a draft assessment order as same would make provisions of section 144C redundant
Tenet Tax Daily January 24 2020
Where HC stayed the final assessment order, continuation of reassessment proceedings held valid
Tenet Tax Daily January 22 2020
Order passed by AO without following DRP directions held null and void and hence was to be quashed
Tenet Tax Daily January 21 2020
Channel placement fee liable for Sec. 194C TDS and not Sec. 194J TDS
Tenet Tax Daily January 07 2020
Failure by tax department to prove understatement of sale consideration 69B additions deleted
Tenet Tax Daily January 04 2020
Period during which property wasn’t legally occupied – notional rental income not taxable
Tenet Tax Daily January 03 2020
Property received on account of family settlement not taxable
Tenet Tax Daily January 02 2020
Since AO failed to conduct proper enquiry sec. 263 revision held justified: HC
Tenet Tax Daily January 01 2020
Compensation paid by builder to trust for reducing tax incidence rightly disallowed: HC
Tenet Tax Daily January 06 2020
Fact that no activities had been started towards objects of trust not valid ground for denial of Sec. 80G approval
Tenet Tax Daily December 31 2019
Initiation of prosecution proceedings upheld by HC as assessee failed to produce evidence of submitting TDS to Govt.
Tenet Tax Daily December 30 2019
Assessment Order rejecting assessee’s refund of excess amount paid as taxes not subject matter of Writ
Tenet Tax Daily December 28 2019
Foreign travel expenses of family members of directors on foreign trips is not allowable
Tenet Tax Daily December 27 2019
Reason to initiate reassessment includes receipt of information from DDIT (Investigation) regarding tax evasions
Tenet Tax Daily December 26 2019
Interest on enhanced refund to be granted from date of filing revised ITR and not original ITR
Tenet Tax Daily December 24 2019
CIT(A) has power to decide stay application and can’t direct assessee to file the application before AO
Tenet Tax Daily December 23 2019