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...
The ITAT Indore addressed various issues in the case. Firstly, it ruled that interest on outstanding GST is allowable as a business expenditure, not a penalty, and cannot be disallowed u/s 37(1). Secondly, interest on belated TDS deposit is not an allowable business deduction, akin to income tax liabilities, and was rightly disallowed. Thirdly, adhoc disallowance of traveling expenses by AO was unfounded as no personal element was proven, leading to deletion of the disallowance by CIT(A). The appeal was partly allowed in favor of the assessee.
The ITAT Indore addressed various issues in the case. Firstly, it ruled that interest on outstanding GST is allowable as a business expenditure, not a penalty, and cannot be disallowed u/s 37(1). Secondly, interest on belated TDS deposit is not an allowable business deduction, akin to income tax liabilities, and was rightly disallowed. Thirdly, adhoc disallowance of traveling expenses by AO was unfounded as no personal element was proven, leading to deletion of the disallowance by CIT(A). The appeal was partly allowed in favor of the assessee.
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