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...
ITAT held that the customer acquisition costs incurred routinely are revenue in nature and deductible in the year of accrual, not capitalized, because they are recurring and not of enduring benefit. Porting charges and data-entry charges wereheld revenue expenditure. The subsidy/compensation on handsets, being split between amounts recovered from customers (accepted as revenue receipts) and amounts subsidized by the assessee, could not be characterized as capital expenditure; the Assessing Officer's contradictory treatment undermined Revenue's position. Consequently, the Tribunal allowed the contested expenditures as deductible revenue losses for assessment purposes rather than capitalized/depreciable assets.
ITAT held that the customer acquisition costs incurred routinely are revenue in nature and deductible in the year of accrual, not capitalized, because they are recurring and not of enduring benefit. Porting charges and data-entry charges wereheld revenue expenditure. The subsidy/compensation on handsets, being split between amounts recovered from customers (accepted as revenue receipts) and amounts subsidized by the assessee, could not be characterized as capital expenditure; the Assessing Officer's contradictory treatment undermined Revenue's position. Consequently, the Tribunal allowed the contested expenditures as deductible revenue losses for assessment purposes rather than capitalized/depreciable assets.
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