Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Maintenance receipts collected under separate service agreements are distinguishable from rent where the letting and service arrangements are independently documented and the charges are separately identifiable. Such receipts may retain the character of business income, particularly where the services could be supplied by a third party, rather than forming part of income from house property. Interest on fresh borrowings used to replace earlier loans for the same let-out property may qualify for deduction under section 24(b), provided the borrowings relate to the property and the interest claim does not exceed the permitted basis. TDS credit requires factual verification that the corresponding income was offered to tax.
Maintenance receipts collected under separate service agreements are distinguishable from rent where the letting and service arrangements are independently documented and the charges are separately identifiable. Such receipts may retain the character of business income, particularly where the services could be supplied by a third party, rather than forming part of income from house property. Interest on fresh borrowings used to replace earlier loans for the same let-out property may qualify for deduction under section 24(b), provided the borrowings relate to the property and the interest claim does not exceed the permitted basis. TDS credit requires factual verification that the corresponding income was offered to tax.
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