Home Highlights May 2011 Year 2011 This

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1. Applicability of Section 43B - electricity duty collected by the assessee - The revenue is required to show that the duty, tax, cess or fee (in the present case...

2. Section 43B of the Income Tax Act disallows certain deductions for unpaid statutory dues like interest, tax, duty, etc. The key points are: Unpaid interest on loans from...

3. The Appellate Tribunal addressed two key issues. Firstly, it ruled that disallowance of unpaid interest u/s 43B on a loan from the World Bank, advanced by the State...

4. Deduction of expenditure after actual payment u/s 43B - Provision of Section 43B of the Income Tax Act does not apply to the electricity duty collected by the...

5. Electricity meter installed in consumers premises and hire charges collected – no service tax

6. Taxability of additional surcharge collected by a government-owned electricity distribution company from open access consumers who source electricity from private...

7. Deduction u/s 43B - Section 43B of the Act does not speak about the electricity charges. Nowhere it is mentioned in the Section or proviso to it that unpaid electricity...

8. The High Court addressed the issue of liability to pay excess tax collection to the Government when the respondent's tax liability is higher than the tax collected. The...

9. Disallowance u/s 43B - outstanding municipal tax liability - the assessee was only a collecting agent on behalf of the State and it was the amount which was not...

10. Section 43B is applicable in the case of sales tax and excise duty but same could not be in case of service tax: CIT (A) held that assessee never allowed deduction on...

11. Sales Tax / VAT on rental of electricity meters - petitioner collects rentals on the meters installed at the place of consumers where electricity is consumed - levy of...

12. Levy of duty on inter-State sale of electricity - competence of the State legislature - The IGST Act which aims to levy tax on supply of goods which is in course of...

13. Disallowance of excise duty - an item of section 43B - Since the excise authority held that CENVAT credit on fuel used for generation of electricity supplied to the...

14. Service Tax Liability - the appellant is a company incorporated under Companies Act, 1956 and acted as agent on behalf of the Chhattisgarh Govt. which authorised it to...

15. Addition of outstanding service tax liability u/s 43B - whether the provisions of sec.43B is attracted when no deduction was claimed by the assessee? - the outstanding...