Tenet Tax Daily November 10 2017
Sum paid towards transmission charges for electricity won’t attract TDS provision: HC
Exp. debited in P&L a/c showing regular increase was proof that assessee was carrying out business activity
Tenet Tax Daily November 09 2017
Allowability of exp. incurred on R&D facilities being debatable issue was outside purview of sec. 154
Tenet Tax Daily November 08 2017
No sec. 194J TDS on reimbursement of exp. to HRTC for carrying out development work on behalf of assessee
Tenet Tax Daily November 07 2017
Payment of AMC of medical equipments in hospital are liable to sec. 194C TDS and not sec. 194J TDS
Tenet Tax Daily November 06 2017
ITAT affirms sanctity of CA certificate; no disallowance for TDS default relying upon such certificate
Tenet Tax Daily November 04 2017
HC dismissed writ filed against sec. 263 notice due to existence of alternate remedy
Tenet Tax Daily November 03 2017
Gross profit rate couldn’t be computed with reference to returns of subsequent years: HC
Tenet Tax Daily November 02 2017
No sec. 35 deduction if assessee failed to prove that exp. incurred on scientific research was for own business
Tenet Tax Daily November 01 2017
Free air travels & hotel stay expenses to doctors for prescribing medicines of pharma-co. aren’t deductible u/s 37
Tenet Tax Daily October 31 2017
No reassessment merely on information supplied by Investigation Wing if all facts were disclosed at original assessment
Tenet Tax Daily October 30 2017
No concealment penalty if partner had bona fide belief that firm had invested his capital gains in new property
Tenet Tax Daily October 28 2017
Ignorance of compliance provision couldn’t be said to be reasonable cause to delete penalty: ITAT
Tenet Tax Daily October 27 2017
ITAT remanded matter as addition was deleted without giving opportunity to AO to verify evidence filed before CIT
Tenet Tax Daily October 26 2017
No sec. 194C TDS if specified equipments supplied to MTNL were bought from third person
Tenet Tax Daily October 25 2017
Tangible and intangible assets having same rate of depreciation were to be included in same block of assets
Tenet Tax Daily October 24 2017
HC quashed assessment order as assessee-company was amalgated with another co. during pendency of proceedings
Tenet Tax Daily October 23 2017
Mere allotment of PAN won’t make allottee a separate entity for purpose of tax assessment
Tenet Tax Daily October 21 2017