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...
Taxability of the remuneration received from the partnership firm and interest on capital contribution made by the partner of the firm in the absence of any business income in the hands of the firm - The reasoning of the CIT(A) that there was no disallowance made by the Assessing Officer u/s.40B and, therefore, the question of applicability of proviso does not arise, in our considered opinion, is unreasonable. The question of disallowance by the Assessing Officer arises only in the event of claim for allowance by the firm. When there was no claim made by the assessee firm u/s. 40B, the question of disallowance does not arise. - AT
Taxability of the remuneration received from the partnership firm and interest on capital contribution made by the partner of the firm in the absence of any business income in the hands of the firm - The reasoning of the CIT(A) that there was no disallowance made by the Assessing Officer u/s.40B and, therefore, the question of applicability of proviso does not arise, in our considered opinion, is unreasonable. The question of disallowance by the Assessing Officer arises only in the event of claim for allowance by the firm. When there was no claim made by the assessee firm u/s. 40B, the question of disallowance does not arise. - AT
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