Taxability of Facility Management Services Assessed; Income Estimated at 15% Due to Incurred Expenditures.

Taxability of Facility Management Services Assessed; Income Estimated at 15% Due to Incurred Expenditures. https://www.taxtmi.com/highlights?id=73226 Estimation of income - Taxability of entire receipt from Facility Management Services (FMS) - Though the Revenue challenged this estimate very vehemently, contending that the assessee did not incur any expenditure to render this service, we cannot accept the same because no service earning revenues could be rendered without expenditure. - Estimation of income @15% sustained - AT en-us Sat, 25 Nov 2023 06:46:57 +0530 Sat, 25 Nov 2023 06:46:57 +0530 TaxTMI RSS Generator Taxability of Facility Management Services Assessed; Income Estimated at 15% Due to Incurred Expenditures. https://www.taxtmi.com/highlights?id=73226 Estimation of income - Taxability of entire receipt from Facility Management Services (FMS) - Though the Revenue challenged this estimate very vehemently, contending that the assessee did not incur any expenditure to render this service, we cannot accept the same because no service earning revenues could be rendered without expenditure. - Estimation of income @15% sustained - AT Highlights Income Tax Sat, 25 Nov 2023 06:46:57 +0530 https://www.taxtmi.com/highlights?id=73226