Claim of Liquidated damages - ascertained liability - ...

Income Tax

September 7, 2018

Claim of Liquidated damages - ascertained liability - Admittedly, in the instant case, no such past events have been placed before the Assessing Officer to show that there is every probability that the expenditure will be incurred. At best, the assessee can pitch their case as a case of possibility but, not a case of probability.

View Source

← Previous Next →

Claim of Liquidated damages - ascertained liability - ...

Income Tax

September 7, 2018

You may also like:

Disallowance of assessee’s claim in respect of its liquidated damages - Revenue argument that these liquidated damages are only in the nature of a provision is...

Payment of liquidated damages - Capital or Revenue in nature - the claim of assessee on liquidated damages deducted under the agreed condition of the contract is...

Disallowance of liquidated damages claimed by assessee - “Liquidated damages” are compensation paid for breach of contract. We are therefore, unable to understand how...

Levy of service tax - liquidated damages/compensation charges received by the Appellant towards the breach and non-compliance of Minimum Guaranteed Tonnage (MGT) as per...

Disallowance of payment of liquidated damages and interest on delayed payment of Value Added Tax (VAT) as deduction - any payment made for breach of contractual...

Levy of service tax with interest and penalty - liquidated damages - While the above Orders have been passed by the Tribunal in 2022, subsequently, CBIC has issued...

Levy of Service Tax on amount of penalty (liquidated damages) collected from their contractor - to refrain from an act or to tolerate an act or a situation or to do an...

Levy of GST - Supply or not - liquidated damages recoverable by the applicant from Belectric India on account of delay in commissioning - time of supply - The contract...

Exemption under Tonnage Tax Scheme - liquidated damages - disallowance of ‘other operating revenue’ claimed by the assessee as exempt income - liquidated damages cannot...

Levy of service tax - receipt of liquidated damages for compensating the appellant against the poor quality of material supplied - Both the authorities also have not...

Denial of refund claim - Valuation - the liquidated damages (LD) had to be factored in to arrive at the correct transaction value which has to be treated as assessable...

Addition u/s 41(1) - benefit by way of remission or cessation of liability - In the instant case, the first mentioned person is the assessee, but not the creditor. In...

Deduction of Interest liability - merely because assessee has disputed its liability it can can not be held as un-ascertained liability - interest liability of earlier...

MAT - Book Adjustments - ascertained liability - where the computation of the provision for bonus was on the basis of Payment of Bonus Act, 1965, the same is ascertained...

MAT computation u/s 115JB - Adjustment for computation of book profits u/s. 115JB on the ground that expenses are unascertained liability. - The Tribunal addressed each...

Quick Updates: