Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
GST - Highlights / Catch Notes

Home Highlights February 2021 Year 2021 This

Compensation on account of inter alia the loss in revenue ...

Case Laws     GST

February 12, 2021

Compensation on account of inter alia the loss in revenue triggered by reduced toll collections once GST was implemented w.e.f. 1-7-2017, along with future interest - there are no merit in the petitioner’s contention that the respondent’s consent to execute the contract agreement on 30-6-2017 ought to be construed as an acquiescence on its part to bear the consequences of the implementation of GST. - HC

View Source

 


 

You may also like:

  1. Disallowing foreign exchange loss - claim of exchange fluctuation loss in revenue account by the Assessee in accordance with generally accepted accounting practices and...

  2. Activity of collection of toll / fee - collection of tolls by the appellant is not considered as Business Auxiliary Service provided to NHAI - AT

  3. New Accounting Code for the purpose of Accounting of collection of Service Tax - Trade Notice

  4. MAT computation - Disallowances on account of loss on revaluation of fixed assets - The expression 'income defined under Section 2(24) of the Act does not include such...

  5. Treatment to Forex loss incurred by the assessee on account of derivative transactions as speculative transactions - When the assessee enters into a hedging transaction...

  6. Accrual of interest expenditure / income - CIT(A) deleted the disallowance u/s 36(1)(iii) - Where there is no certainty of collection, revenue cannot be said to be...

  7. Loss reduced due to adj. u/s 143(1) – demand of tax is sustainable

  8. The loss arising on account of cancellation of forward contract would also be a business loss and therefore the assessee is entitled to claim the said loss in his books...

  9. Disallowance of mark to market losses - Nature of loss - allowable business loss or not? - The assessee is consistently following the method of accounting. Therefore,...

  10. Addition u/s 43B - Method of accounting - unpaid statutory dues of service tax, Excise and PF by changing the method of accounting - The assessee followed the exclusive...

  11. Forex loss - allowable business loss u/s 37(1) or not? - The assessee company has entered into transactions of buying and selling of forex and incurred a loss on the...

  12. Nature of loss - capital loss or business loss - company in liquidation - assesssee claimed the same as business loss - Tribunal allowed the same as capital loss -...

  13. MAT computation u/s 115JB - Adjustment of resultant gains / losses of the amalgamation - Accumulated loss - cancellation of shares - Share Capital was reduced with a...

  14. Characterization of receipt - in respect of business exigencies the compensation specially in respect of damage to properties through fire or any other activities, the...

  15. Receipt of Compensation - termination of rights - Capital or revenue - any compensation received for the loss of agency is a revenue receipt, whereas compensation which...

 

Quick Updates:Latest Updates