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
Income Tax - Highlights / Catch Notes

Home Highlights January 2016 Year 2016 This

Nexus between the revenue earned and cost incurred - ...

Income Tax

January 28, 2016

Nexus between the revenue earned and cost incurred - ascertaining whether a service has actually benefitted the taxpayer or not is not within the prerogative of the Tax Authorities. To avail a service or not is a commercial decision which cannot be challenged by the Tax Authorities - AT

View Source

 


 

You may also like:

  1. Refund claim of Cenvat credit - Export - Nexus between input and output service - service tax paid on business auxiliary service - ST paid on reverse charge basis -...

  2. Once it is found that no expenditure was incurred in earning this income, there would be no further expenditure in relation thereto that falls within the ambit of section 14A - HC

  3. Once, the machinery was available for use, though not actually used, falls within the expression used “for the purpose of business of the assessee” and claim the benefit...

  4. Valuation - Reimbursement Expenses - Legal position is clear that expenses actually incurred and reimbursed by service recipient are not to form part of assessable value...

  5. Business Auxiliary Service - demand based on ST-3 return - Benefit of Notification No. 14/2004-ST dated 10.9.2004 wrongly claimed - extended period is not invokable in...

  6. CENVAT credit on stockbroker's service - there is clear nexus between the stockbroker's service and the manufacture of the goods - service clearly fell within the ambit...

  7. Deduction u/s 57(iii) - As long as the purpose of incurring expenditure is to earn income, the expenditure would have to be allowed as a deduction under Section 57(iii)...

  8. Benefit of reduced penalty - penalty not deposited - get the benefit of reduced penalty of 25% of the service tax (ST) u/s 78(1) of the FA, 1994, assessee required to...

  9. Disallowance u/s 14A - There is direct and proximate nexus between the exempted income, which the investments shall genearate and the expenditures directly or indirectly...

  10. Expenses incurred for earning interest income on estimation basis - AO is directed to allow 1% of expenses on account of interest income and on service charges income - AT

 

Quick Updates:Latest Updates