Tenet Tax Daily July 21 2014
Brokerage in respect of securities transactions is outside the ambit of sec. 194H TDS
ITAT lays down litmus test to determine ‘closely linked’ transactions for TP purposes and for their clubbing
Tenet Tax Daily July 19 2014
Interest earned from inter-corporate loans and foreign currency account are eligible for sec. 10B relief
Tenet Tax Daily July 17 2014
Deduction under section 80-IAB upheld where bare-shell building sold to co-developer, although not a permitted activity, since Board of Approval (BOA) had granted approval for transfer of bare-shell to co-developer in accordance provisions of SEZ Act and SEZ Rules
Tenet Tax Daily July 16 2014
Interest earned from inter-corporate loans and foreign currency account are eligible for sec. 10B relief
Tenet Tax Daily July 17 2014
Deduction under section 80-IAB upheld where bare-shell building sold to co-developer, although not a permitted activity, since Board of Approval (BOA) had granted approval for transfer of bare-shell to co-developer in accordance provisions of SEZ Act and SEZ Rules
Tenet Tax Daily July 16 2014
Interest accrued from investment in ‘Kisan Vikas Patra’ is taxable on accrual basis, rules HC
Tenet Tax Daily July 15 2014
Onus is on assessee to prove reasonable allocation of common expenditure to unit eligible for sec. 80-IB relief
Tenet Tax Daily July 14 2014
AO couldn’t revisit claim of sec. 80-IA relief if it was allowed after thorough examination during assessment
Tenet Tax Daily July 12 2014
Hospital is entitled to claim sec. 11 relief from income arising from pharmacy, an integral part of hospital
Tenet Tax Daily July 11 2014
An AOP can file appeal through any of its HUF members and not through any member of such HUF in individual capacity
Tenet Tax Daily July 09 2014
Deductions allowable under one provision can’t be withdrawn unless other overriding provision is overstepped
Tenet Tax Daily July 08 2014
Delay in filing of appeal due to failure of AO to hand over his charge to successor is condonable
Tenet Tax Daily July 07 2014
Before initiating reassessment AO must dispose of preliminary objection of assessee by passing speaking order
Tenet Tax Daily July 05 2014
Limitation period for sec. 154 rectification begins when AO passes original order and not consequential one
Tenet Tax Daily July 04 2014
Failure to maintain books of account would bar assessee to claim min. exemption benefit from undisclosed income
Tenet Tax Daily July 03 2014
Bank couldn’t be held as assessee-in-default for TDS default if customer pays taxes on his interest income
Tenet Tax Daily July 02 2014
Slight delay in service of demand notice and copy of assessment order would not invalidate assessment
Tenet Tax Daily July 01 2014