Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Cross country pipeline qualifies as immovable property under the...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restrictions
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Cross country pipeline qualifies as immovable property under the doctrine of fixtures: items attached to or embedded in the earth intended for permanent beneficial enjoyment become part of the land, so works contract services for construction of such pipeline do not attract input tax credit. The pipeline, being laid outside factory premises and serving transport of gas from processing terminals, does not form part of plant and machinery because it lacks the requisite machinery element and is not fixed by foundation or structural support; consequence: goods and services for construction and laying of the pipeline are excluded from ITC under the statutory restrictions.
Cross country pipeline qualifies as immovable property under the doctrine of fixtures: items attached to or embedded in the earth intended for permanent beneficial enjoyment become part of the land, so works contract services for construction of such pipeline do not attract input tax credit. The pipeline, being laid outside factory premises and serving transport of gas from processing terminals, does not form part of plant and machinery because it lacks the requisite machinery element and is not fixed by foundation or structural support; consequence: goods and services for construction and laying of the pipeline are excluded from ITC under the statutory restrictions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4884 
