Tenet Tax Daily November 28 2015
AO couldn’t pass attachment order if assessee had filed appeal against such order alongwith stay application
Sum received by Irish Co. for providing online access to its e-learning products in India is taxable as royalty
Tenet Tax Daily November 27 2015
Sum paid to clear mortgage can’t be held as exp. incurred in connection with transfer under sec. 48
Tenet Tax Daily November 26 2015
Advance received by lawyers on legal matters can’t be treated as income till completion of case
Tenet Tax Daily November 25 2015
Excess money refunded on cancellation of booking of flats couldn’t be held as interest for purpose of sec. 194A TDS
Tenet Tax Daily November 24 2015
Non-compete fee wasn’t taxable prior to AY 2002-03
Tenet Tax Daily November 21 2015
Appeal filed before ITAT to be restored when proceedings before SetCom is abated
Tenet Tax Daily November 19 2015
No concealment penalty even if assessee had followed different system of accounting for particular exp. and income
Tenet Tax Daily November 18 2015
Delhi HC examines test of “related party” for deciding maintainability of application before SetCom
Tenet Tax Daily November 17 2015
Reassessment made to tax royalty by invoking ‘Force of Attraction Rule’ quashed by Delhi HC
Tenet Tax Daily November 16 2015
ITAT apportions exp. on living Germplasm and technical know-how between capital and revenue exp.
Tenet Tax Daily November 14 2015
Rent not to be held as benefit/perquisite just because spouse had substantial interest in lessee-Co.
Tenet Tax Daily November 13 2015
Default period of assessee-in-default shall be counted as per British Calendar month
Tenet Tax Daily November 12 2015
Capital gains on gifted asset shall be computed by taking CII of year in which asset held by previous owner
Tenet Tax Daily November 07 2015
No incurrence of exp. on services provided by assessee proved that it had outsourced services to AE; No. TP adjustment
Tenet Tax Daily November 06 2015
Unexplained Jewellery placed in locker shall be assessed in year of opening of locker by revenue
Tenet Tax Daily November 05 2015
No deduction of brokerage paid for procuring tenant as standard deduction under sec. 24 covers all exp.
Tenet Tax Daily November 04 2015
Civil court has no jurisdiction to entertain suit against I-T department without any allegation of fraud
Tenet Tax Daily November 02 2015