Tenet Tax Daily May 27 2016
Sum paid to non-executive director for giving suggestion for better performance of Co. won’t be treated as commission
Merely because there is a reference to name of assessee in seized documents, it does not mean that assessee is owner of those documents; to invoke section 153C there should be something in satisfaction note recorded by Assessing Officer to indicate that searched person had disclaimed those documents and documents did not belong to searched person but other third person
Tenet Tax Daily May 26 2016
No writ against CIT’s revisional order if alternate remedy of filing an appeal before ITAT was available to assessee
Tenet Tax Daily May 25 2016
Loan advanced to AE couldn’t be said to be for non-business purpose if assessee and its AE were in same business
Tenet Tax Daily May 24 2016
Addition made under sec. 40A(2) set aside as interest was paid to related party at prevailing market rate
Tenet Tax Daily May 23 2016
Non-compete fee being a business income won’t be taxable in India unless recipient has PE in India
Tenet Tax Daily May 21 2016
No tax on alimony received from ex-husband
Tenet Tax Daily May 20 2016
Sum received for supplying of data without making available any technology for its use won’t be taxed as royalty
Tenet Tax Daily May 19 2016
Fee for service which is inextricably linked to sale isn’t treated as fee for included services under Indo-US DTAA
Tenet Tax Daily May 18 2016
Refund arising out of Tribunal’s order must be granted to assessee even if dept. preferred appeal before HC
Tenet Tax Daily May 16 2016
No penalty for non-maintenance of TP docs if assessee furnished updated margins of earlier comparables
Tenet Tax Daily May 14 2016
Reasons to believe for reassessment has to be furnished even when assessment is completed under sec. 143(1)
Tenet Tax Daily May 13 2016
Exp. incurred on renovation of leased premise to be treated as capital expenditure
Tenet Tax Daily May 12 2016
Amendment made to sec. 40(a)(ia) by Finance Act, 2012 should be applicable retrospectively w.e.f 1/4/2005: ITAT
Tenet Tax Daily May 11 2016
Benefit of India-UK DTAA can’t be denied to a UK based partnership firm
Tenet Tax Daily May 10 2016
Rental income from guest houses is taxable under the head business income and not as house property
Tenet Tax Daily May 09 2016
Wheeling charges paid to ‘Power Grid Corporation’ couldn’t be deemed as ‘FTS’; liable to TDS under sec. 194C
Tenet Tax Daily May 07 2016