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Service Tax - Highlights / Catch Notes

Home Highlights March 2024 Year 2024 This

Recovery of service tax alongwith interest and penalties - ...

Service Tax

March 26, 2024

Recovery of service tax alongwith interest and penalties - Sundry Debtors/ amounts realizable appearing in Balance Sheet The Tribunal agreed with the appellant that sundry debtors should not be considered as taxable income until realized, as per accounting norms and legal precedents. - It concluded that the demand for service tax based on unrealized receivables was unfounded.

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