Tenet Tax Daily December 26 2015
Sec. 44BBA can’t be applied to tax presumptive income of foreign Airlines if it has produced books revealing losses
No TDS liability on reimbursement of exp. incurred by C&F agent if separate bill was raised by him
Tenet Tax Daily December 25 2015
Payment made by hospital to doctors would not attract sec. 192 in absence of employer-employee relationship
Tenet Tax Daily December 24 2015
Delhi ITAT rejects bright line test to determine ALP of AMP exp; directs TPO to follow ratio of Sony Ericsson’s case
Tenet Tax Daily December 23 2015
AO can’t impose penalty under sec.271(1)(c) once penalty proceedings are initiated under sec. 271AAA
Tenet Tax Daily December 22 2015
Delhi HC quashed reassessment on ‘Oriental Insurance’ as reason to believe of AO was found erroneous
Tenet Tax Daily December 21 2015
No disallowance of late payment interest just because assessee kept cash balance in hand
Tenet Tax Daily December 19 2015
Commission paid to agent for services rendered outside India wasn’t taxable if he didn’t have any PE in India
Tenet Tax Daily December 18 2015
No TDS on supplementary rent of Aircraft if no facilities or services were given by foreign lessor
Tenet Tax Daily December 17 2015
ITAT refused to invoke LOB clause of India-UAE treaty as shipping Co. wasn’t a conduit Co. in UAE
Tenet Tax Daily December 16 2015
CIT(A) has to submit additional evidence to AO even if it is nature of clinching evidence
Tenet Tax Daily December 15 2015
Payment of hoarding charges are liable to sec. 194C TDS and not sec. 194-I TDS
Tenet Tax Daily December 14 2015
Interest disallowed as sum advanced by builder for acquisition of property wasn’t utilized by AE for said purpose
Tenet Tax Daily December 12 2015
No cessation of liability under sec. 41(1) just because liability was more than 7 years old
Tenet Tax Daily December 11 2015
No concealment penalty when assessee had shown non-compete fee as a capital receipt due to bona-fide belief
Tenet Tax Daily December 10 2015
No disallowance of contribution to PF just because PF wasn’t recognized by Jurisdictional CIT
Tenet Tax Daily December 09 2015
No accrual of income if its payment was deferred prior to closing of previous year
Tenet Tax Daily December 08 2015
Hyderabad ITAT treats employee’s and employer’s contribution to PF at par for purpose of sec. 43B
Tenet Tax Daily December 07 2015