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...
Characterisation of mesne profits was contested as revenue or capital; tribunal found mesne profits constituted compensation for benefit unjustly retained by a tenant who overstayed on a monthtomonth tenancy, not damages to the capital asset, and therefore are revenue receipts. Reliance on certain earlier tribunal decisions was rejected and a binding highercourt precedent favouring revenue characterisation was applied. Consequence: the mesne profits are taxable as revenue and the taxpayer's appeal against the assessment was dismissed.
Characterisation of mesne profits was contested as revenue or capital; tribunal found mesne profits constituted compensation for benefit unjustly retained by a tenant who overstayed on a monthtomonth tenancy, not damages to the capital asset, and therefore are revenue receipts. Reliance on certain earlier tribunal decisions was rejected and a binding highercourt precedent favouring revenue characterisation was applied. Consequence: the mesne profits are taxable as revenue and the taxpayer's appeal against the assessment was dismissed.
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