Chapter XIX exclusion applies to payments received by the International Rice Research Institute, subject to specified privileges and immunities condit...
Statutory GST notice and personal hearing remain essential before adverse reverse-charge demands, while unnotified catering cannot trigger reverse cha...
Cash payments for purchase of spares do not attract disallowance under section 40A(3) where no individual payment exceeds the prescribed daily threshold. Contractual deductions for failure to transport the agreed minimum quantity of coal constitute demurrage or damages under contractual terms, rather than penalties for infringement of law. Such expenditure therefore falls outside Explanation 1 to section 37(1) and remains deductible as business expenditure. The deletions of disallowances relating to both cash payments and contractual demurrage were sustained.
Cash payments for purchase of spares do not attract disallowance under section 40A(3) where no individual payment exceeds the prescribed daily threshold. Contractual deductions for failure to transport the agreed minimum quantity of coal constitute demurrage or damages under contractual terms, rather than penalties for infringement of law. Such expenditure therefore falls outside Explanation 1 to section 37(1) and remains deductible as business expenditure. The deletions of disallowances relating to both cash payments and contractual demurrage were sustained.
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TaxTMI 
TaxTMI 
