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...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Corporate guarantee liability becomes deductible in the previous year in which settlement fixes and crystallises the obligation. Where the settlement occurred in the previous year relevant to Assessment Year 1998-99, subsequent consent terms merely implemented and discharged the already determined liability; they did not defer the year of deduction. The resulting business-loss deduction was therefore allowable for Assessment Year 1998-99.
Corporate guarantee liability becomes deductible in the previous year in which settlement fixes and crystallises the obligation. Where the settlement occurred in the previous year relevant to Assessment Year 1998-99, subsequent consent terms merely implemented and discharged the already determined liability; they did not defer the year of deduction. The resulting business-loss deduction was therefore allowable for Assessment Year 1998-99.
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