Taxability of difference between deferral sales tax liability ...

Court Rules No Taxable Perquisite on Deferred Sales Tax Prepayment; Finance Act 2023 Amendment Supports Decision.

October 4, 2023

Case Laws Income Tax AT

Taxability of difference between deferral sales tax liability and its prepayment at its NPV u/s. 28(iv) - Here in this case there is no benefit of perquisite arising to assessee by virtue of this arrangement. It is further to be noted that sec 28(iv) of the act has been amended by the finance act 2023 w.e.f A.Y 2024-25 which covers cash or in kind or partly in cash or partly in kind. This amendment clearly strengthens the contention of the assessee that in the year under consideration the same was not covered by section 28(iv). - AT

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Taxability of difference between deferral sales tax liability ...

Court Rules No Taxable Perquisite on Deferred Sales Tax Prepayment; Finance Act 2023 Amendment Supports Decision.

October 4, 2023

Case Laws Income Tax AT

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