Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Deduction u/s 35AD and set off u/s 73A against the loss incurred by it in other unit - Loss of assessee on account of a specified business claiming deduction u/s 35AD would be allowed to set of against the profit of another specified business. U/s 73A, whether or not the later is eligible for deduction u/s 35AD. Therefore, by the above clarification, it is clear that assessee can claim set off against the profit from specified business units of Mumbai and Indore. - AT
Deduction u/s 35AD and set off u/s 73A against the loss incurred by it in other unit - Loss of assessee on account of a specified business claiming deduction u/s 35AD would be allowed to set of against the profit of another specified business. U/s 73A, whether or not the later is eligible for deduction u/s 35AD. Therefore, by the above clarification, it is clear that assessee can claim set off against the profit from specified business units of Mumbai and Indore. - AT
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