Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
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Insurance compensation for fire damage to stock and business interiors should not be separately added to business income where it has already been adjusted against the loss and only the net loss is debited in the profit and loss account; a further addition would duplicate taxation while ignoring the corresponding loss. The discussion distinguishes such compensation from compensation for loss of a capital asset and therefore from capital-gains treatment. It also states that an appellate authority should not sustain an addition on a wholly different basis without addressing the assessment's original foundation. Deletion of the related quantum addition removes the basis for a concealment penalty.
Insurance compensation for fire damage to stock and business interiors should not be separately added to business income where it has already been adjusted against the loss and only the net loss is debited in the profit and loss account; a further addition would duplicate taxation while ignoring the corresponding loss. The discussion distinguishes such compensation from compensation for loss of a capital asset and therefore from capital-gains treatment. It also states that an appellate authority should not sustain an addition on a wholly different basis without addressing the assessment's original foundation. Deletion of the related quantum addition removes the basis for a concealment penalty.
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