tenet-tax-daily-august-24-2016
Exp. incurred by Tamil Nadu Tourism Corporation to maintain ‘Thiruvalluvar Statue’ is revenue exp.
Prepayment charges on home loans are deductible as ‘interest’ under Sec. 24(b): Mumbai ITAT
tenet-tax-daily-august-23-2016
Both employees and employer’s contribution covered under Sec. 43B: Patna HC
tenet-tax-daily-august-22-2016
Exp. on replacement of tools held as revenue exp. in accordance with provisions of AS-2 and AS-10
tenet-tax-daily-august-20-2016
No denial of Sec. 54F relief if taxpayer is unable to get possession of flat due to builder’s fault
tenet-tax-daily-august-19-2016
Penalty levied for excess claim of unabsorbed depreciation u/s 115JB; ITAT denies theory of carry backward of losses
tenet-tax-daily-august-18-2016
No sec. 80-IB relief on income from DEPB
tenet-tax-daily-august-17-2016
No addition of cash credit under sec. 68 if all deposits routed via banking channel and depositors were having PAN
tenet-tax-daily-august-16-2016
Capital gain on sale of property situated in Sri Lanka is taxable only in Sri Lanka
tenet-tax-daily-august-15-2016
Cash deposits in bank can’t be held as undisclosed income without verifying source of deposits
tenet-tax-daily-august-13-2016
Land intended to be used for commercial purpose at time of sale can’t be deemed as agricultural land
tenet-tax-daily-august-12-2016
No deemed dividend if transaction of advance was made between companies for business expediency
tenet-tax-daily-august-11-2016
No TDS on transportation charges reimbursed by buyer if seller is liable to pay such charges to GTA
tenet-tax-daily-august-10-2016
The transaction couldn’t be deemed as international transaction due to its inadvertently disclosure in Form 3CEB
tenet-tax-daily-august-09-2016
Retro-amendment to the definition of ‘royalty’ can’t be imported into Articles of treaty
Tenet Tax Daily August 08 2016
Assessee can claim sec. 54F relief by filing belated return under sec. 139(4)
Tenet Tax Daily August 06 2016
Bombay HC treats renovation exp. on leasehold premises as capital exp.
Tenet Tax Daily August 05 2016
HC dismissed writ for transfer of case to new officer as old officer had already passed order of assessment
Tenet Tax Daily August 04 2016