tenet-tax-daily-december-09-2016
Commission for loan guarantee is revenue exp. even if loan is taken to acquire capital asset
CIT can make sec. 264 revision even if there is a mistake on the part of assessee
tenet-tax-daily-december-08-2016
Non-disclosure of plot details of housing project leads to sec. 80-IB disallowance in reassessment
tenet-tax-daily-december-06-2016
ITAT allows deduction of payments to sub-contractors as it was genuine payment made via banking channel
tenet-tax-daily-december-05-2016
Payment made to labour contractor to procure material on behalf of builder assessee won’t attract sec. 194C TDS
tenet-tax-daily-december-03-2016
Gains arising on shares were capital gains when shares were continuously shown as investment in balance sheet
tenet-tax-daily-december-02-2016
Loaders, water tankers eligible for 30% depreciation if used in business of transportation of goods on hire
tenet-tax-daily-december-01-2016
Interest paid by stock-broker was deductible under sec. 57 as borrowings were utilized for deposits with NSE
tenet-tax-daily-november-30-2016
Disclosure of additional income during settlement didn’t show that initial offer wasn’t true: HC
tenet-tax-daily-november-29-2016
Additions made in total income of assessee after determination of ALP would invite concealment penalty
tenet-tax-daily-november-28-2016
Change in method of accounting isn’t permissible in middle of FY: HC
tenet-tax-daily-november-26-2016
Non-disclosure of plot details of housing project leads to sec. 80-IB disallowance in reassessment
tenet-tax-daily-november-25-2016
Non-recovery of loan was deductible if it was given by surety to borrower to protect itself from penal action of bank
tenet-tax-daily-november-24-2016
Voluntary donation received by Mazdoor Union to settle employee-employer dispute would be tax-free
tenet-tax-daily-november-23-2016
Profits increased due to Sec. 14A disallowance would be eligible for Sec. 10A relief: Mumbai ITAT
tenet-tax-daily-november-22-2016
Keyman insurance policy not taxable on its assignment before maturity for period prior to April 1, 2014
tenet-tax-daily-november-21-2016
One couldn’t challenge time-limit of rectification application without specifying date of service of order
tenet-tax-daily-november-19-2016
No capital gain exemption as transferor-co. failed to prove that it was wholly owned subsidiary of transferee-co.
tenet-tax-daily-november-18-2016