Tenet News Flash – August 11 2014
Tenet News Flash – Revised India-Malta DTAA
HC dismissed writ as alternate remedy was available to challenge issue regarding validity of reassessment notice
Tenet Tax Daily August 11 2014
Sum received on termination of agency’s term is a capital receipt as it puts an end to income earning apparatus
Tenet Tax Daily August 09 2014
Gymkhana Club providing sports and other recreational facilities only to its members can’t be treated as charitable trust
Tenet Tax Daily August 08 2014
Cos with huge turnover, abnormal profits or functional differences are excludible from comparables list
Tenet Tax Daily August 07 2014
No withholding tax liability on payment of export commission to NR before withdrawal of Circular No. 786
Tenet Tax Daily August 06 2014
Payment to foreign co. to conduct navigation studies at Indian port doesn’t satisfy ‘make available’ clause; no FTS
Tenet Tax Daily August 04 2014
Expenditure incurred to remove hardship in professional work allowed as revenue expenditure
Tenet Tax Daily August 05 2014
AO’s referral to TPO doesn’t take away his powers of determining nature of exp. under sec. 37(1)
Tenet Tax Daily August 01 2014
Settlement Commission’s order of disallowing a sum upheld by HC as otherwise it could reduce undisclosed income offered by assessee
Tenet Tax Daily July 31 2014
Transfer of ownership rights via agreement to sell held as ‘transfer’, even if possession wasn’t given to purchaser
Tenet Tax Daily July 30 2014
No penalty or prosecution if return was voluntarily filed in good faith prior to detection of concealment
Tenet Tax Daily July 29 2014
HC upheld disallowance of commission as assessee failed to prove nature of services rendered by sub-agents
Tenet Tax Daily July 28 2014
HC dismissed writ as appellant-bank had alternate remedy of filing an appeal on charges of sec. 194A TDS default
Tenet Tax Daily July 26 2014
Employer’s and employee’s contribution to PF and ESI are deductible if paid before due date of filing return
Tenet Tax Daily July 25 2014
Transfer of division in exchange of shares only couldn’t be held as slump sale; rules HC
Tenet Tax Daily July 24 2014
AO to record his satisfaction under sec. 153C even if he has jurisdiction over searched person and other person
Tenet Tax Daily July 23 2014
Revenue couldn’t reject audited books to make ex-parte assessment
Tenet Tax Daily July 22 2014