Tuesday, March 2, 2021

Price deducted as goods not supplied as per the specification whether qualify as 'tolerating an act': Matter Remanded

EXCISE/ST/VAT: Assessee had entered into a contract for supply of certain material with a supplier - Certain material supplied under said contract was found deficient to specified quality - Assessee recovered certain amount from its supplier as liquidated damages for compensating against poor quality of material supplied to him on which service tax was held to be applicable under section 66(E)

from www.taxmann.com Latest Case Laws https://ift.tt/3q7IuKj

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

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...