Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Depreciation on franchise rights was allowed on the full actual cost of the intangible asset, because the franchise licence was acquired when the agreement was executed and annual instalments did not limit the asset's cost; any later adjustment would affect subsequent years. Cash payments for daily allowances were disallowed under section 40A(3) because the relevant test is the actual payment to a person in a day, and no Rule 6DD exception was proved. Business research and routed remuneration claims failed for want of proof of actual services and business nexus, while the ad hoc percentage disallowance of web support expenses was deleted for lack of evidentiary basis. Security expenses were allowed on commercial expediency, and several reimbursement, TDS credit and brought-forward loss issues were remanded for verification.
Depreciation on franchise rights was allowed on the full actual cost of the intangible asset, because the franchise licence was acquired when the agreement was executed and annual instalments did not limit the asset's cost; any later adjustment would affect subsequent years. Cash payments for daily allowances were disallowed under section 40A(3) because the relevant test is the actual payment to a person in a day, and no Rule 6DD exception was proved. Business research and routed remuneration claims failed for want of proof of actual services and business nexus, while the ad hoc percentage disallowance of web support expenses was deleted for lack of evidentiary basis. Security expenses were allowed on commercial expediency, and several reimbursement, TDS credit and brought-forward loss issues were remanded for verification.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
