Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Input tax credit was held admissible on works contract input services used to construct foundation and structural support for plant and machinery installed in the factory. The Authority reasoned that section 17(5)(c) blocks credit for works contract services used for immovable property, but the Explanation to section 17 expressly includes the foundation and structural support of apparatus, equipment and machinery within "plant and machinery". Because the RCC and steel structures were used only to support the machines, absorb vibration and ensure stability, they were not treated as excluded civil structures. The applicant was therefore entitled to credit on the impugned services.
Input tax credit was held admissible on works contract input services used to construct foundation and structural support for plant and machinery installed in the factory. The Authority reasoned that section 17(5)(c) blocks credit for works contract services used for immovable property, but the Explanation to section 17 expressly includes the foundation and structural support of apparatus, equipment and machinery within "plant and machinery". Because the RCC and steel structures were used only to support the machines, absorb vibration and ensure stability, they were not treated as excluded civil structures. The applicant was therefore entitled to credit on the impugned services.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
