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...
ITAT upheld CIT(A)'s order, dismissing revenue's appeal regarding brokerage expenses. The tribunal found that brokerage expenses were legitimate business expenditures paid through banking channels, supported by invoices. The expenses were incurred as selling costs, consistent with IND AS-2, and could not be capitalized. The assessee's books were properly maintained and audited, demonstrating substantial income from business activities. The appellate tribunal concluded that the brokerage payments were normal selling expenses for a large-scale construction business, and therefore, the addition made by the Assessing Officer was unwarranted.
ITAT upheld CIT(A)'s order, dismissing revenue's appeal regarding brokerage expenses. The tribunal found that brokerage expenses were legitimate business expenditures paid through banking channels, supported by invoices. The expenses were incurred as selling costs, consistent with IND AS-2, and could not be capitalized. The assessee's books were properly maintained and audited, demonstrating substantial income from business activities. The appellate tribunal concluded that the brokerage payments were normal selling expenses for a large-scale construction business, and therefore, the addition made by the Assessing Officer was unwarranted.
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