Request-driven road restoration attracts reverse-charge GST, not governmental-function treatment or compensatory-damages status for business recipient...
Road restoration charges for commercial pipeline works are taxable Government services, with reverse charge liability and no public-function exemption...
Model-wise import cap monitoring cannot justify withholding used multifunction machines where all-India tracking is absent and full security is furnis...
Addition u/s 41(1) - interest waived by the Bank - The appellant contended that the waiver of liability by the bank should not be chargeable to tax under Section 41(1) of the Act. The High Court examined the provisions of Section 41(1) and emphasized that for it to apply, there must have been an allowance or deduction made in the assessment for the loss or expenditure incurred by the assessee. In this case, no such allowance or deduction had been made. Additionally, the Court concluded that the waiver of the loan amounted to the cessation of a liability other than trading liability, making Section 41(1) inapplicable. Consequently, the High Court ruled in favor of the assessee.
Addition u/s 41(1) - interest waived by the Bank - The appellant contended that the waiver of liability by the bank should not be chargeable to tax under Section 41(1) of the Act. The High Court examined the provisions of Section 41(1) and emphasized that for it to apply, there must have been an allowance or deduction made in the assessment for the loss or expenditure incurred by the assessee. In this case, no such allowance or deduction had been made. Additionally, the Court concluded that the waiver of the loan amounted to the cessation of a liability other than trading liability, making Section 41(1) inapplicable. Consequently, the High Court ruled in favor of the assessee.
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TaxTMI 
TaxTMI 
of 4916 
