Validity of Section 40(a)(iib) - Scope of the term "Charges" - ...

High Court Declines Petition on Section 40(a)(iib) Validity; VAT as "Charges" Under Income Tax Act Questioned.

March 17, 2020

Case Laws Income Tax HC

Validity of Section 40(a)(iib) - Scope of the term "Charges" - Whether Value Added Tax (VAT) would be falling within the definition of a “charge” - petitioner Corporation contending that the amount which is deductible in computing the income chargeable in terms of the Income Tax Act is not being allowed under the garb of the aforesaid provision - as the matter is still sub judice before the Income Tax Authority, we are not inclined to entertain the writ petition - HC

View Source

← Previous Next →

Validity of Section 40(a)(iib) - Scope of the term "Charges" - ...

High Court Declines Petition on Section 40(a)(iib) Validity; VAT as "Charges" Under Income Tax Act Questioned.

March 17, 2020

Case Laws Income Tax HC

You may also like:

Disallowance of VAT expenses - Disallowance as "fee" or "charge" u/s40(a)(iib) - The Assessee, a state government-owned company engaged in the wholesale business of...

Revision u/s 263 by CIT - Value Added Tax paid by assessee and claimed as deduction u/s.37 r.w.s. 43B or u/s 40(a)(iib) - scope of amended provisions of section...

Revision u/s 263 by CIT - additions u/s 40(a)(iib) - The gallonage fee, licence fee and shop rental (kist) with respect to FL9 and FL1 licences granted to the...

Nature of income - Income received from Strand Book Stall for providing warehousing, binding, shrink wrapping, supervision charges and mailing charges - taxable as...

The court held that the charge created by the bank u/s 26E of the SARFAESI Act would take precedence over the charge created by the respondent u/s 48 of the VAT Act....

Accrual of income - real income - since the basis, modality and the amount on which the capacity charges, deemed generation charges and capacity Index Incentives were to...

Under the SARFAESI Act, a bank's charge takes priority over the State's claim for outstanding dues related to specific land. The High Court held that the charge created...

Service charges received by the assessee from tenants - Income from house property or business income - service charges received by the company from the tenants is...

Disallowance being amount of State Value Added Tax (VAT) paid for earlier years - Deduction u/s 80IB claimed - Assessee became liable to pay VAT for earlier years - The...

Refund of SAD - no VAT was charged - NIL rate of VAT in terms of the notification issued under Rajasthan VAT Act 2003 is to be considered as appropriate sales tax/VAT -...

TDS u/s 195 - payment to abroad (USA / UK) of communication charges, commission charges, legal and professional charges, marketing & selling charges and business...

Construction of residential complex - It appeared to Revenue that the appellant is also collecting one time Preferential Location Charges, Car Parking Charges, Club...

Entitled to registration u/s 12AA and approval under Section 80G - Allegation of charging higher rate of interest from the self help groups in the name of charitable...

Categorization of income - Undisclosed income surrendered during survey - Charging of tax rate u/s. 115BBE - CIT(A) granted relief to the assessee by charging income at...

The applicant is required to pay GST on the charges paid to Indian Railways for various services received, as the applicant is the recipient of these services from...

Quick Updates: