Tenet Tax Daily December 12 2013
ITAT slams revenue for invoking sec. 194C on sums paid to NR shipping companies
Even information from CBI won’t authorize search unless it is based on reasons given under sec. 132(1)
Tenet Tax Daily December 11 2013
TP adjustment restricting transactions with AEs only and excluding transaction with non-AEs set aside
Tenet Tax Daily December 10 2013
Retro amendment akin to double edged sword; HC permits rectification and reopening of assessment
Payment of self-assessment tax instantly on detection of default saves assessee from clutches of penalty
Tenet Tax Daily December 7 2013
Dealings between assessee and NR on principal-to-principal basis rule out existence of ‘service PE’
Tenet Tax Daily December 6 2013
No reassessment on mere allegation of bogus entries as AO failed to identify culprits for such entries
Tenet Tax Daily December 5 2013
Only profits embedded in purchases made from grey market are taxable in hands of assessee
Tenet Tax Daily December 3 2013
Sum paid to NR to identify potential customers and to conduct market survey abroad held taxable as FTS
Tenet Tax Daily December 2 2013
Short-term capital gain computed on long-term depreciable assets can be set off against long-term capital loss
Tenet Tax Daily November 30 2013
No royalty from sale of software, HC ignores amended Sec. 9 as DTAA more beneficial – Samsung’s case distinguished
Tenet Tax Daily November 29 2013
Section 54 does not require that assessee must earn income from said property
Tenet Tax Daily November 28 2013
Tenet Tax Daily November 26 2013
TP adjustments for not charging cost from AEs deleted as assessee had to settle transactions at cost-plus mark up
Tenet Tax Daily November 25 2013
Assessee to initiate fresh proceedings if it’s not satisfied with consequential order passed after ITAT’s direction
Tenet Tax Daily November 23 2013
HC deletes additions for cash credits on proving identify of share applicants
Tenet Tax Daily November 22 2013
Declaring an income admitted during search and payment of taxes thereon saves assessee from sec. 271AAA penalty
Tenet Tax Daily November 21 2013
Disallowing excess depreciation doesnot justify re-assessment if assessee was subjected to MAT provisions
Tenet Tax Daily November 20 2013