https://www.taxtmi.com/caselaws?id=287877 Revision under section 263 was upheld because the Assessing Officer had accepted the deduction claims without enquiring into the applicability of section 40(a)(iib), making the assessment both erroneous and prejudicial to the Revenue. Gallonage fee paid under the Foreign Liquor Rules was held disallowable under section 40(a)(iib) because its character depended on the mode of levy and its link to the exclusive licence, not its label. Licence fee and shop rental for exclusive State-granted liquor licences were also held to fall within section 40(a)(iib), as amounts levied exclusively by the State Government on State Government undertakings. The appeals therefore failed and all disallowances were sustained. en-us Tue, 12 Mar 2019 00:00:00 +0530 Thu, 07 May 2020 09:07:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287877 Revision under section 263 was upheld because the Assessing Officer had accepted the deduction claims without enquiring into the applicability of section 40(a)(iib), making the assessment both erroneous and prejudicial to the Revenue. Gallonage fee paid under the Foreign Liquor Rules was held disallowable under section 40(a)(iib) because its character depended on the mode of levy and its link to the exclusive licence, not its label. Licence fee and shop rental for exclusive State-granted liquor licences were also held to fall within section 40(a)(iib), as amounts levied exclusively by the State Government on State Government undertakings. The appeals therefore failed and all disallowances were sustained. Case-Laws Income Tax Tue, 12 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287877