Government water works contract GST concession applied before its withdrawal, while contractual tax reimbursement claims lay outside advance-ruling sc...
Stamp valuation increases after registration-fee payment led to deletion of property-purchase addition within tolerance and without valuation referral...
Government securities held by a bank as stock-in-trade may be valued at cost or market value, whichever is lower. A consistently and regularly adopted valuation method cannot be displaced merely because the tax department prefers another method, supporting depreciation on such securities. Brokerage expenditure was allowable after the assessing authority accepted the claim on remand. Unclaimed bank balances do not constitute remission or cessation of a trading liability merely because customers have not claimed them; the bank's legal liability continues and the balances are not taxable on that basis. The departmental appeals were dismissed.
Government securities held by a bank as stock-in-trade may be valued at cost or market value, whichever is lower. A consistently and regularly adopted valuation method cannot be displaced merely because the tax department prefers another method, supporting depreciation on such securities. Brokerage expenditure was allowable after the assessing authority accepted the claim on remand. Unclaimed bank balances do not constitute remission or cessation of a trading liability merely because customers have not claimed them; the bank's legal liability continues and the balances are not taxable on that basis. The departmental appeals were dismissed.
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TaxTMI 
TaxTMI 
of 4894 
