Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
Supply of canteen services to employees falls within "in the course or furtherance of business" and therefore qualifies as supply under section 7(1), because incidental or ancillary activities connected to main business are covered; outcome: the activity is taxable as supply. Provision of canteen by a third party provider to the employer is a supplier-recipient transaction and the employer's recoveries from employees constitute consideration; outcome: amounts recovered from employees are subject to GST. Free or concessional canteen benefits constitute perquisites; outcome: only the concession portion is exempt as perquisite (non taxable), and unrecovered value is not taxable.
Supply of canteen services to employees falls within "in the course or furtherance of business" and therefore qualifies as supply under section 7(1), because incidental or ancillary activities connected to main business are covered; outcome: the activity is taxable as supply. Provision of canteen by a third party provider to the employer is a supplier-recipient transaction and the employer's recoveries from employees constitute consideration; outcome: amounts recovered from employees are subject to GST. Free or concessional canteen benefits constitute perquisites; outcome: only the concession portion is exempt as perquisite (non taxable), and unrecovered value is not taxable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
