Provisional attachment fails without material showing likely concealment, transfer, or dealing that could frustrate confiscation of mortgaged property...
Works-contract goods transfers remain outside service tax, while qualifying lift irrigation works receive exemption and extended limitation cannot app...
Customs assessment information portal centralises rulings and guidance to promote consistent classification, valuation, transparency and informed comp...
Composite show-cause notices spanning multiple financial years are jurisdictionally invalid, allowing writ review despite an alternative appellate rem...
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 4884 
