Liability to pay ‘sales incentive’ crystalizes on achieving sales target; provision deductible under Sec. 37(1): HC

Case Details: CIT v. Maharashtra … Continue reading “Liability to pay ‘sales incentive’ crystalizes on achieving sales target; provision deductible under Sec. 37(1): HC”

Refund of Education Cess & SHEC admissible within one year of transition, as not transferable to GST: CESTAT

Case Details: Kirloskar Toyota Textile … Continue reading “Refund of Education Cess & SHEC admissible within one year of transition, as not transferable to GST: CESTAT”

Services qualify as exports if provider in India & recipient outside India are independently registered companies: CESTAT

Case Details: L & T … Continue reading “Services qualify as exports if provider in India & recipient outside India are independently registered companies: CESTAT”

MoU showing tax to be paid by another Co. isn’t binding on AO; tax can be recovered from director if not paid by Co.: HC

Case Details: Rajeev Behl v. … Continue reading “MoU showing tax to be paid by another Co. isn’t binding on AO; tax can be recovered from director if not paid by Co.: HC”

Central Govt. specifies ‘Jeevan Akshay-VII Plan’ of LIC as annuity plan for purpose of Sec. 80C deduction

Notification No. 134/2021, dated 06-12-2021 … Continue reading “Central Govt. specifies ‘Jeevan Akshay-VII Plan’ of LIC as annuity plan for purpose of Sec. 80C deduction”