Tenet Tax Daily October 20 2017
Sumpaid as Shelter fund to protect land from acquisition was to be treated as revenue expenditure: HC
Sum paid to NR for grant of software license for specific period couldn’t be held as royalty
Tenet Tax Daily October 19 2017
ITAT allowed port exp. as it was agreed with buyer that port charges were to be borne by assessee
Tenet Tax Daily October 18 2017
ITAT upheld disallowance of interest exp. as assessee had no interest free funds to give interest free loan
Tenet Tax Daily October 17 2017
HC upheld penalty as assessee failed to prove that there was reasonable cause for not deducting TDS
Tenet Tax Daily October 16 2017
‘Reason to believe’ isn’t required to be disclosed in case of search proceedings: SC
Tenet Tax Daily October 14 2017
In absence of evidence, ITAT couldn’t allow 42% deduction from gross receipts towards non-receipt of fee
Tenet Tax Daily October 13 2017
Delhi HC confirmed sec. 68 additions as assessee failed to prove identity and financial strength of creditors
Tenet Tax Daily October 12 2017
Expenditure incurred on issue of Foreign Currency Convertible Bonds was deductible as revenue expenditure
Tenet Tax Daily October 11 2017
No sec. 153C proceedings if loose papers seized from premises didn’t make any reference to assessee
Tenet Tax Daily October 10 2017
HC slams AO for issuing 2nd reassessment notice on reasons identical to reassessment notice dismissed earlier
Tenet Tax Daily October 09 2017
Reassessment order couldn’t be held invalid merely because AO had failed to mention sec. 143(2) in notice: HC
Tenet Tax Daily October 07 2017
Sec. 41(1) couldn’t be invoked in respect of conversion of advance received from parent co. into capital
Tenet Tax Daily October 06 2017
Rectification order by ITAT didn’t require interference if revenue went into details of case in course of hearing
Tenet Tax Daily October 05 2017
HC slam AO for issuing reassessment notice in name of Transferor-Company after amalgamation
Tenet Tax Daily October 04 2017
SetCom application couldn’t be rejected if it was allowed for other group companies making similar disclosure
Tenet Tax Daily October 03 2017
No increase in ALV of property if interest-free loan was taken prior to tenancy
Tenet Tax Daily September 30 2017
Sec. 264 revision couldn’t be allowed if recovery proceedings were initiated against assessee: HC
Tenet Tax Daily September 29 2017