Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Liability for salary and wages arising out of the Justice Palekar Award - ascertained lability or not - The High court referred to precedent and held that the liability accrued when the provision was made, regardless of the actual agreement date. It emphasized that the provision made was for services already rendered and was a prudent business practice. - The court disagreed with the tribunal's decision and held that the liability for salary and wages arising from the specific award should be allowable as expenditure in the relevant assessment year.
Liability for salary and wages arising out of the Justice Palekar Award - ascertained lability or not - The High court referred to precedent and held that the liability accrued when the provision was made, regardless of the actual agreement date. It emphasized that the provision made was for services already rendered and was a prudent business practice. - The court disagreed with the tribunal's decision and held that the liability for salary and wages arising from the specific award should be allowable as expenditure in the relevant assessment year.
Note: It is a system-generated summary and is for quick reference only.
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