Tenet Tax Daily June 18 2019
Valuation certificate prescribes only minimum sum to be collected – there is no restriction on collecting a higher share premium
Prppert held by co-owners cannot be treated as property owned only by assessee while for relief u/s 54F: ITAT
Tenet Tax Daily June 17 2019
Deduction of unrecovered advances written off disallowed as assessee couldn’t substantiate his claim
Tenet Tax Daily June 15 2019
If there was no failure on part of assessee to disclose material facts reassessment after 4 years is not valid: HC
Tenet Tax Daily June 14 2019
Penalty u/s 271AAB not to be imposed in case income surrendered during search didn’t result in undisclosed income
Tenet Tax Daily June 13 2019
In case of difference in level of capacity utilization by assessee, capacity adjustment was necessary as per Rule 10B
Tenet Tax Daily June 12 2019
Payment received on transfer of copyrighted software is not royalty: ITAT
Tenet Tax Daily June 11 2019
Pending Govt. approval for R&D facility – Claim made towards weighted deduction u/s 35(2AB) allowable
Tenet Tax Daily June 10 2019
Legal heirs are not bound by the notice issued in name of deceased person: ITAT
Tenet Tax Daily June 07 2019
Ceasing of liability of shipping agent to pay port storage rent back to customer – Sec. 41(1) additions justified
Tenet Tax Daily June 06 2019
Sum received by partners towards their share in assets on retirement from firm is not liable to capital gain tax
Tenet Tax Daily June 08 2019
Section 54 exemption not to be denied if delay in getting possession is on account of builder
Tenet Tax Daily June 05 2019
Manufacturing activity includes conversion of paddy into rice and is eligible for sec. 80-IA/80-IB deduction
Tenet Tax Daily June 04 2019
Rejection of Sec. 10(22) exemption is correct since assessee-society purchased property in name of secretary and manager
Tenet Tax Daily June 03 2019
CIT(A) cannot declare TDS return filed by assessee as non-est: ITAT
Tenet Tax Daily June 01 2019
Payments of hiring charges for cranes not liable for sec. 194C TDS
Tenet Tax Daily May 31 2019
Method of determining FMV of shares consistently accepted in prior years cannot be changed by the Assessing Officer
Tenet Tax Daily May 30 2019
Commission received by Non Resident agents for export is not liable to tax in India
Tenet Tax Daily May 29 2019