https://www.taxtmi.com/caselaws?id=759065 VAT collected from customers and remitted to the State was held not to be a royalty, licence fee, service fee, privilege fee, service charge, or other fee or charge within section 40(a)(iib) of the Income-tax Act, 1961. The Tribunal applied its earlier decisions in the assessee's own case and concluded that such VAT is not an appropriation by the State Government and is not levied exclusively on the assessee. On that basis, the Principal Commissioner's revision under section 263 was found to rest on an incorrect application of section 40(a)(iib), and the VAT expenditure remained allowable under sections 37 and 43B. en-us Fri, 23 Aug 2024 00:00:00 +0530 Mon, 23 Sep 2024 09:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759065 VAT collected from customers and remitted to the State was held not to be a royalty, licence fee, service fee, privilege fee, service charge, or other fee or charge within section 40(a)(iib) of the Income-tax Act, 1961. The Tribunal applied its earlier decisions in the assessee's own case and concluded that such VAT is not an appropriation by the State Government and is not levied exclusively on the assessee. On that basis, the Principal Commissioner's revision under section 263 was found to rest on an incorrect application of section 40(a)(iib), and the VAT expenditure remained allowable under sections 37 and 43B. Case-Laws Income Tax Fri, 23 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759065