Tenet Tax Daily June 21 2016
Reimbursement of salary of seconded employees to AE couldn’t be treated as ‘FTS’ to attract TDS under sec. 194J
No reassessment after 4 years if all material facts were disclosed by assessee during original assessment
Tenet Tax Daily June 20 2016
No concealment penalty could be imposed just because an expenditure was disallowed due to TDS default
Tenet Tax Daily June 18 2016
ITAT removes effect of cost reimbursed from AE as comparable wasn’t getting any reimbursement for its services
Tenet Tax Daily June 17 2016
Exp. incurred to replace various parts of machinery treated as revenue exp. as no new asset brought into existence
Tenet Tax Daily June 16 2016
An income already assessed to tax in hands of agent couldn’t be taxed in hands of its principal
Tenet Tax Daily June 15 2016
Compensation paid by firm to its retiring partner is treated as goodwill, eligible for depreciation
Tenet Tax Daily June 11 2016
Unabsorbed depreciation is allowed to be carried forward even if return isn’t filed within due date
Tenet Tax Daily June 10 2016
Sum received for rendering composite service of managerial and technical nature can’t be taxed without segregation
Tenet Tax Daily June 09 2016
An agricultural land couldn’t be treated as non-agricultural land just because it was situated near a highway
Tenet Tax Daily June 08 2016
For a new business, previous year starts from the date of setting-up of business and not from 1st April
Tenet Tax Daily June 07 2016
Assessee gets interest on refund arising due to foreign tax credit
Tenet Tax Daily June 06 2016
Foreign travel exp. of director’s family allowed as family members met foreign vendors as ex-directors
Tenet Tax Daily June 04 2016
CBDT clarifies that interest can’t be denied on refund of excess TDS deposited under Sec. 195
Tenet Tax Daily June 03 2016
Sum paid to foreign entities to download photographs from their websites won’t be treated as Royalty
Tenet Tax Daily June 02 2016
No penalty on ‘Aishwarya Rai’ for TDS default if she relied on her CA’s advice
Tenet Tax Daily June 01 2016
No condonation of delay in filing appeal if assessee failed to reveal the source of wrong advice given by its counsel
Tenet Tax Daily May 30 2016
Sec. 143(1) intimation is regarded as an order for purposes of revision under sec. 264
Tenet Tax Daily May 28 2016