Allowable expenditure under Income Tax Act - opening balance in ...

Income Tax

March 19, 2021

Allowable expenditure under Income Tax Act - opening balance in Service Tax Set Off Account (STA) made by the assessee - In fact, the Tribunal has taken into consideration as to how the CENVAT Scheme operates and granted relief to the assessee. The Tribunal has once again re-appreciated the factual position and found that the decision in M/s.NCS Distilleries P. Ltd., would fully apply to the case on hand - substantial questions of law are answered against the Revenue. - HC

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Allowable expenditure under Income Tax Act - opening balance in ...

Income Tax

March 19, 2021

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