Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Disallowance of VAT expenses - Disallowance as "fee" or "charge" u/s40(a)(iib) - The Assessee, a state government-owned company engaged in the wholesale business of foreign liquor in Chhattisgarh, contested the disallowance. - Referring to the judgment of the Hon’ble Supreme Court in the case of Kerala State Beverages Manufacturing & Marketing Corporation Ltd., the Tribunal held that surcharge on sales tax, including VAT, does not fall within the scope of disallowance under Section 40(a)(iib) of the Income-tax Act, 1961.
Disallowance of VAT expenses - Disallowance as "fee" or "charge" u/s40(a)(iib) - The Assessee, a state government-owned company engaged in the wholesale business of foreign liquor in Chhattisgarh, contested the disallowance. - Referring to the judgment of the Hon’ble Supreme Court in the case of Kerala State Beverages Manufacturing & Marketing Corporation Ltd., the Tribunal held that surcharge on sales tax, including VAT, does not fall within the scope of disallowance under Section 40(a)(iib) of the Income-tax Act, 1961.
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