Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
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Input tax credit on statutory canteen services is restricted by the blocked credit rule for food and beverages, but credit remains available where the employer is legally obliged to provide the facility under the Factories Act. Accordingly, canteen services for regular employees qualified only to the extent the cost was actually borne by the employer; any portion recovered from employees was outside admissible credit. Canteen services attributable to contract workers did not qualify, because they were not employees, no corresponding statutory obligation was shown, and the inward service was not used for any outward supply of the same category. The admissibility of credit was therefore confined to the employer's own statutory expenditure.
Input tax credit on statutory canteen services is restricted by the blocked credit rule for food and beverages, but credit remains available where the employer is legally obliged to provide the facility under the Factories Act. Accordingly, canteen services for regular employees qualified only to the extent the cost was actually borne by the employer; any portion recovered from employees was outside admissible credit. Canteen services attributable to contract workers did not qualify, because they were not employees, no corresponding statutory obligation was shown, and the inward service was not used for any outward supply of the same category. The admissibility of credit was therefore confined to the employer's own statutory expenditure.
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