Service Tax on Transportation by Education Institutions Service Tax Department has initiated to issue Notices to the Education Institutions for charging Service Tax (retrospectively) on the Transportation Charges / Bus Fees charged by them from their Students, Staff or Faculty between the period from 01-04-2103 to 11-07-2014.
Service Tax on Export of Service Export the goods and not the taxes is the common line that we hear, this statement is also valid in Finance Act, 1994 for export of service. However Rules framed under Finance Act, 1994 have defined the term “Export of Service” and if the conditions mentioned therein are satisfied […]
On the basis of Partnership Deed Income from Renting of Godown cannot be treated as Business income The Commissioner of Income Vs. M/s. Sileman Khan Mahaboob Khan (Andhra Pradesh High Court) , I.T.T.A. No.316 OF 2003 , Date of Decision-11-03-2015 The respondent-assessee is a partnership Firm engaged in export of Tobacco. The respondent- assessee filed […]
No Penalty on Tax Audit Report Obtained on last day of due date Chopra Properties Vs ACIT (ITAT Delhi), ITA No. 6199/Del/2013, Date of Pronouncement : 21.10.2015 Brief facts of the case are that the assessee is a partnership firm filed its return of income on 30th March, 2009 showing total income of Rs. 58,57,760/- […]
Expenses debited as cost of ESOP in profit and loss account allowable Case Law Citations- CIT vs. Lemon Tree Hotels Ltd (Delhi High Court), ITA 107/2015, Date-18.08.2015 In case of CIT vs. Lemon Tree Hotels Ltd Following the Madras High Court in CIT-III Chennai v. PVP Ventures Ltd. (TC(A) No. 1023 of 2005) it was […]