Monday, July 20, 2020

Foreclosure charges are damages & not consideration; No Service Tax: CESTAT Chennai (LB)

GST/EXCISE/ST/VAT: Foreclosure charges collected by banks and non-banking financial companies on premature termination of loans are not leviable to service tax

from www.taxmann.com Latest Case Laws https://ift.tt/3eGbaEl

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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