https://www.taxtmi.com/caselaws?id=367063 The High Court dismissed the Revenue's appeals challenging the disallowance of service tax under Section 43B of the Income Tax Act, 1961. The Court upheld the Tribunal's decision that service tax liability arises only upon actual receipt of funds by the assessee, not just upon billing customers. It emphasized that tax is payable only when collected from customers, in line with Section 43B. The Court found no substantial question of law, citing a Division Bench Judgment supporting the Tribunal's interpretation. The appeals were dismissed without costs. en-us Mon, 10 Sep 2018 00:00:00 +0530 Tue, 30 Jul 2019 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367063 The High Court dismissed the Revenue's appeals challenging the disallowance of service tax under Section 43B of the Income Tax Act, 1961. The Court upheld the Tribunal's decision that service tax liability arises only upon actual receipt of funds by the assessee, not just upon billing customers. It emphasized that tax is payable only when collected from customers, in line with Section 43B. The Court found no substantial question of law, citing a Division Bench Judgment supporting the Tribunal's interpretation. The appeals were dismissed without costs. Case-Laws Income Tax Mon, 10 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367063