Tenet Tax Daily July 17 2017
HC quashed reassessment as it was made without issuing notice under section 143(2)
CIT was justified in penalty order if disallowance relating to ‘head office exp.’ was set-aside by ITAT
Tenet Tax Daily July 15 2017
AO couldn’t reject books of account if assessee proved that profits decreased due to increase in cost of materials
Tenet Tax Daily July 14 2017
No reassessment could be made on basis of an issue which was duly answered in favour of assessee by ITAT
Tenet Tax Daily July 13 2017
Transfer of only specific ‘assets and liabilities’ in lieu of consideration couldn’t be held as demerger
Tenet Tax Daily July 11 2017
Tax dept. couldn’t ignore ruling of Jurisdictional HC just because it had filed SLP on same issue
Tenet Tax Daily July 10 2017
ITAT deleted AMP exp. adjustments as no benefit had accrued to AE on sale of India specified product in India only
Tenet Tax Daily July 08 2017
Order rejecting SetCom application couldn’t be interfered with if declared income didn’t belong to assessee: HC
Tenet Tax Daily July 07 2017
Permanent cessation of agricultural operation would convert agricultural land into non-agricultural land: ITAT
Tenet Tax Daily July 06 2017
Leasing income from ready to move office in Gurgaon to Agilent held as business income
Tenet Tax Daily July 05 2017
Declaring an income admitted during search saves assessee from section 271AAA penalty: ITAT
Tenet Tax Daily July 04 2017
Period of existence of two unrelated projects by Foreign Co. couldn’t be combined to determine its PE in India
Tenet Tax Daily July 03 2017
Stating wrong section in reassessment notice won’t nullify proceedings if assessee was actively participating in it
Tenet Tax Daily June 30 2017
Exp. incurred on construction of houses for the people affected by floods wasn’t allowable
Tenet Tax Daily June 21 2017
Sec. 50C couldn’t be applied if no circle rate was prescribed by stamp valuation authorities: ITAT
Tenet Tax Daily June 28 2017
Purchase of goods as per given specification isn’t a works contract without supply of material to seller
Tenet Tax Daily June 27 2017
Funds were to be taxed in hands of investors if revocable contributions were made to trust
Tenet Tax Daily June 26 2017