Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Taxability of subsidy received under TUF scheme - revenue or capital receipts or reduction in value of fixed assets - to reduce from the cost of asset, the subsidy should be directly or indirectly used for acquiring an asset - In present case no asset was being acquired by using TUF subsidy therefore it should not be reduced from fixed assets - hence, such TUF subsidy is to be treated capital receipt
Taxability of subsidy received under TUF scheme - revenue or capital receipts or reduction in value of fixed assets - to reduce from the cost of asset, the subsidy should be directly or indirectly used for acquiring an asset - In present case no asset was being acquired by using TUF subsidy therefore it should not be reduced from fixed assets - hence, such TUF subsidy is to be treated capital receipt
Note: It is a system-generated summary and is for quick reference only.
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