Tenet Tax Daily August 09 2017
Bombay HC taxes exchange fluctuation after considering principles of AS-11
Reassessment was valid if assessee sold property in co-ownership but failed to file ITR to declare capital gains
Tenet Tax Daily August 07 2017
Reassessment by relying on info. received from investigation wing without conducting inquiry was unjustified
Tenet Tax Daily August 05 2017
Firm Controlled by assessee’s brother and his wife couldn’t be held as associate enterprise for TP purposes
Tenet Tax Daily August 04 2017
AO couldn’t treat payer as assessee-in-default without establishing that payee didn’t pay tax on income
Tenet Tax Daily August 03 2017
Concealment penalty was justified as confiscated cash was disclosed in return after issuance of scrutiny notice
Tenet Tax Daily August 02 2017
No. denial of Sec. 35 deduction due to cancellation of research institution approval retrospectively
Tenet Tax Daily August 01 2017
Time take to upgrade rig to make it ready to use should be considered to determine PE status
Tenet Tax Daily July 31 2017
Sale of land to be taxed as capital gain when it was held as investment which subjected to wealth tax
Tenet Tax Daily July 29 2017
SetCom application rejected as assessee claimed to be involved in hedging as broker but failed to substantiate it
Tenet Tax Daily July 28 2017
No interest could be levied if advance tax liability arose due to retrospective amendment
Tenet Tax Daily July 27 2017
Sec. 54F : Two adjacent flats won’t form two residential units though purchased by separate sale deeds
Tenet Tax Daily July 25 2017
Failure to raise genuine claim in ITR doesn’t allow AO to deny it during assessment
Tenet Tax Daily July 24 2017
ITAT remanded matter to determine nature of payments made by assessee to NR entities
Tenet Tax Daily July 22 2017
Reassessment justified when assessee found to be involved in bogus share purchases: Madras HC
Tenet Tax Daily July 21 2017
No business profits arose on sale of property just because property development objective was given in MOA of Co.
Tenet Tax Daily July 20 2017
Penalty for delay in filing of TDS return couldn’t be levied if there was difficulty in obtaining PANs of deductees
Tenet Tax Daily July 19 2017