Service tax paid by Service provider, on being pointed out by Department, can be treated as business expenditure

Service tax paid by Service provider, on being pointed out by Department, can be treated as business expenditure https://www.taxtmi.com/article/detailed?id=5666 The assessee paid service tax and interest following audit detection of non-collection and claimed them as business expenses. Authorities found no recovery from clients, treated the payments as incidental to business operations, and held the interest compensatory. Therefore, the service tax and interest were allowed as deductible business expenditure under Section 37 of the Income Tax Act. en-us Sat, 14 Jun 2014 12:02:23 +0530 Sat, 14 Jun 2014 12:02:23 +0530 TaxTMI RSS Generator Service tax paid by Service provider, on being pointed out by Department, can be treated as business expenditure https://www.taxtmi.com/article/detailed?id=5666 The assessee paid service tax and interest following audit detection of non-collection and claimed them as business expenses. Authorities found no recovery from clients, treated the payments as incidental to business operations, and held the interest compensatory. Therefore, the service tax and interest were allowed as deductible business expenditure under Section 37 of the Income Tax Act. Articles Service Tax Sat, 14 Jun 2014 12:02:23 +0530 https://www.taxtmi.com/article/detailed?id=5666