Tenet Tax Daily January 25 2017
ITAT allows deduction of license fee of goodwill; rejects revenue’s stand that transaction was colourable device
Sum received on transfer of right to host and Promote ‘Formula F1 Race’ isn’t royalty
Tenet Tax Daily January 24 2017
Proviso has prospective effect which excludes applicability of sec. 44B due to operation of sec. 44DA
Tenet Tax Daily January 23 2017
Under charging of interest on excess credit period allowed to AE is an international transaction
Tenet Tax Daily January 21 2017
Statement of family members would be considered for making additions even if it wasn’t made during search
Tenet Tax Daily January 19 2017
Assessee could approach ITAT when Chief CIT had rejected sec. 10(23C) exemption application
Tenet Tax Daily January 18 2017
Loss incurred in chit-fund would be deductible if funds were raised for business purposes
Tenet Tax Daily January 17 2017
Developer constructing Airport and Bridges for Govt. agencies entitled to sec. 80-IA relief
Tenet Tax Daily January 14 2017
No sec. 14A disallowance when assessee had sufficient interest-free funds to make investment
Tenet Tax Daily January 13 2017
Continuous payments made to transporters would be aggregated to consider TDS limit under sec. 194C
Tenet Tax Daily January 12 2017
Office land sold by bank would be taxable as capital gains and not as business income
Tenet Tax Daily January 11 2017
No penalty under sec. 271F if there is reasonable cause for belated filing of return in search cases
tenet-tax-daily-january-10-2017
Forward contracts for hedging in forex wasn’t speculative when it was made in normal course of business
tenet-tax-daily-january-09-2017
HC dismissed writ as assessee had already filed appeal against transfer order under sec. 127
tenet-tax-daily-january-07-2017
U/s 179 assessee director could not be asked to substantiate basic issue as to whether company was a public limited company
tenet-tax-daily-january-06-2017
HC allows deduction of Rs. 4 crore incurred by ‘Idea’ on an abandoned project
tenet-tax-daily-january-05-2017
Income from leasing out business assets for a limited period to carry out production activity is business income
tenet-tax-daily-january-03-2017
Special Audit can be directed on basis of multiplicity of transactions, volume of trade and complexity of accounts
tenet-tax-daily-january-02-2017