How to Fix ‘Compile error in hidden module’ when you open ITR

How to Fix 'Compile error in hidden module' when you open ITR Posted: 21 Jul 2013 08:01 PM PDT Some of the Solutions based on feedback from Users :- 1. Install msxml 6.0 service Pack1 for all type of compile errors In ITR excel you can download this utility from the link given below :- http://www.microsoft.com/en-in/download/details.aspx?id=6276 2. People who are using  Excel 2007  have not...

S. 54 Exemption available on Acquisition of new flat in exchange of old flat Posted: 21 Jul 2013 07:30 PM PDT The dispute is regarding allowability of exemption under section 54 of the Act and computation of long term capital gain in respect of exchange of old flat with a new flat and cash compensation under development agreement with the builder. The revenue authorities have held that since assessee had...

S. 36(1)(v): Payment To LIC Towards Group Gratuity fund Allowable : SC Posted: 21 Jul 2013 06:37 PM PDT True that a fiscal statute is to be construed strictly and nothing should be added or subtracted to the language employed in the Section, yet a   strict construction of a provision does not rule out the application of the principles of reasonable construction to give effect to the purpose and...

Lump sum amount received from ex-husband as alimony is not taxable Posted: 20 Jul 2013 11:53 PM PDT In the present case, though the assessee was to receive monthly alimony which was to be taxable in the each year from conclusion of divorce agreement but in this case monthly payments were not received and, therefore, were not offered tax. The receipt by the assessee represents accumulated monthly...

Tax Treaty Treatment of Termination Payments – OECD's draft guidance Posted: 20 Jul 2013 11:40 PM PDT This public discussion draft includes proposals for additions and changes to the Commentary on the OECD Model Tax Convention resulting from the work of that subgroup. These proposals have recently been presented to the Working Party for discussion with a view to their possible inclusion in the OECD...

TP- Making distinction between alcoholic beverages like 'whisky' and 'other than whisky', is undesirable for comparability under TNMM Posted: 20 Jul 2013 11:31 PM PDT The arm's length result under the TNMM is determined to the net profit margin of a comparable transactions under a comparable circumstances and the profitability derived from uncontrolled party engaged in similar business activity under similar circumstances are to be analysed. The product...

Exemption U/s. 54F not allowable on amount invested in construction before transfer of original asset Posted: 20 Jul 2013 10:10 PM PDT Brief facts of the case are that the assessee is a director in M/s. Veen Promoters Pvt. Ltd. There was a survey u/s. 133A of the Act on 14.7.2009 in the case of M/s. Veen Promoters Pvt. Ltd. The assessee filed return of income for the A.Y. 2008-09 on 31.7.2009 declaring total income at Rs. [...]

S. 14A Interest expenditure cannot be disallowed by mechanically applying Provisions of Rule 8D Posted: 20 Jul 2013 09:55 PM PDT Here in the present case, there is no linkage or nexus between the funds borrowed by assessee and the impugned investments, hence, no interest expenditure can be disallowed by mechanically applying the Provisions of Rule 8D of the Rules. The assessee has explained that the share capital and...

Filling Recall Application without consent of client is a Professional Misconduct, ITAT recommends ICAI to take action against erring CA Posted: 20 Jul 2013 09:44 PM PDT No professional has any right to invoke the judicial machinery for his own interest without any reasons. If he does so it would amount to professional misconduct on the part of the professional. Moreover, to dispute the proceedings of the court, without any cogent material, is also an attempt to...

TDS not to be deducted on income not accrued to assessee Posted: 20 Jul 2013 09:23 PM PDT Whether the interest accrued on fixed deposits in a bank would be entitled for TDS in the hands of the assessee, even if entitlement in respect of the principal amount of fixed deposit as well as the interest earned is subject matter of appeal? it would be wholly unreasonable to deduct tax at...