Departmental appeal limitation after call-book recall preserves original filing, while documented correlation supports SAD refund on imported granules...
Income-tax prosecution fails when appellate remand removes its factual foundation; directors require company arraignment for vicarious criminal liabil...
Capital character of assignment consideration prevents taxation as residuary income, while unsupported interest-related expenditure remains non-deduct...
Make-available condition shields regional support-service receipts from Indian taxation where no independent capability or permanent establishment exi...
Transfer-pricing treatment of corporate guarantees and convertible loans followed prior-year consistency, with taxable foreign dividends excluded from...
Work Contract Tax actually paid during the relevant previous year is deductible for an assessee consistently following the cash system of accounting, even where the statutory liability relates to earlier financial years. Once the books and accounting method are accepted, mercantile principles cannot be selectively applied to deny the deduction without material showing a mercantile method, manipulation, or accounting defects warranting intervention. Interest paid solely for delayed payment of Work Contract Tax is compensatory rather than penal in nature. As it compensates the State for delayed use of funds and relates to statutory business liability, the interest is allowable as a business deduction.
Work Contract Tax actually paid during the relevant previous year is deductible for an assessee consistently following the cash system of accounting, even where the statutory liability relates to earlier financial years. Once the books and accounting method are accepted, mercantile principles cannot be selectively applied to deny the deduction without material showing a mercantile method, manipulation, or accounting defects warranting intervention. Interest paid solely for delayed payment of Work Contract Tax is compensatory rather than penal in nature. As it compensates the State for delayed use of funds and relates to statutory business liability, the interest is allowable as a business deduction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
