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Income Tax - Highlights / Catch Notes

Home Highlights September 2014 Year 2014 This

Collection of Entertainment tax is a trading receipt or not - ...

Case Laws     Income Tax

September 8, 2014

Collection of Entertainment tax is a trading receipt or not - irrespective of the fact that the multiplexes have been constructed out of own funds or borrowed funds the receipt of subsidy would be on capital account - AT

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  1. Nature of receipt – Entertainment tax – Revenue or capital receipt - the subsidy in respect of Multiplex located at Jaipur to be capital in nature. - AT

  2. Imposition/levy of entertainment tax by the petitioners - admission fee in the form of ticket to allow people to visit trade fairs / Pragati Maidan - There are regulated...

  3. Nature of receipt under the subsidy scheme - Multiplex Theatre Complexes - exemption of entertainment duty - the receipt is in the nature of capital receive - not taxable - SC

  4. New Accounting Code for the purpose of Accounting of collection of Service Tax - Trade Notice

  5. Nature of receipt - Entertainment tax exemption in respect of Multiplexes - whether capital or revenue receipts? - where object of respective subsidy schemes of State...

  6. The case involved a challenge to assessment orders regarding whether sponsorship receipts constitute "payment for admission to entertainment." The court examined if the...

  7. Trading receipt - refundable contingency deposit representing sales tax collected in respect of disputed transactions during pendency of appeal before court - held as...

  8. Levy of Entertainment tax - Valuation - consideration towards the services excluding the service tax component or on both - No proof is available on records to show that...

  9. Service tax to be included as part of the trading receipts – Service tax receipt cannot be treated as a trading receipt. Hence, reimbursement of service tax cannot form...

  10. Recovery of short paid service tax - Construction of Complex Service - adjustment of the excess service tax paid - Service Tax when introduced followed the receipt based...

  11. Collection and reporting of margins by Trading Member (TM) /Clearing Member (CM) in Cash Segment

  12. Direct tax collections for FY 2023-24 as of 17.06.2023 show net collections of Rs. 3,79,760 crore, a growth of 11.18% compared to the preceding year. - Gross collections...

  13. Revenue or capital - entertainment duty subsidy - The fact that the subsidy was not meant for repaying the loan taken for construction of multiplexes cannot be a ground...

  14. Entry Tax - rebate to the extent of the amount of tax on the payment of Trade Tax - Notification dated 28.4.2005, cannot be interpreted in the manner that where the rate...

  15. Levy of Entertainment tax - online booking charges - The petitioners have pointed out that the internet and online facility of booking could not have been envisaged in...

 

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