Home Highlights June 2015 Year 2015 This

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1. Management, Maintenance or Repair Service - Software Services Agreement - repair and maintenance of software - stay granted - AT

2. Input Tax Credit - GST paid on goods purchased for the purpose of construction & maintenance of Warehouse - no ITC of GST paid on goods purchased for the purpose of...

3. Income accruing or arising in India u/s 9(1)(i) - amount received by the assessee from Tata Communications Ltd. (“TCL”) as Standby Maintenance Charges - the Standby...

4. Classification as Revenue or Capital Expenditure – Expenses for transmission - Establishment and maintenance expenditure – It is only in respect of construction and the...

5. Revenue recognition - The difference in revenue generating pattern. ‘NOP’ project already completed but certain portion of development remain unsold. It shows that...

6. Commercial and Industrial Construction Servcie - Revenue’s argument that construction of schools and colleges will come within the meaning of Commercial or Industrial...

7. Revenue or capital expenditure - current repairs u/s 31 - overhead expenditure on construction - deductionallowed - AT

8. Aircraft lease charges - lease charges were to include maintenance charges and AIL was under obligation to maintain and repair the aircrafts as part of the lease...

9. Receipt of maintenance charges - liable to be taxed under the head of income from house property OR income from other sources - The Assessees who are signatories to the...

10. Classification of services - Renting of Immovable Property Service - revenue sharing agreement - Agreement to run, conduct and operate the three hotels together - a...

11. Rectification of mistake u/s 254 - period of limitation - keeping in view factual matrix of the instant case, the MA ought to have been filed by assessee latest by 30.11....

12. Receipt of compensation on termination of distributorship agreement is in the nature of revenue receipt - HC

13. Management, Maintenance or Repair Service versus ‘Information Technology Services - software usage agreement - annual maintenance contract - period prior to 16/05/2008 -...

14. Disallowance of software expenses - revenue or capital expenditure - payment was made for maintenance/hosting services not resulted in any enduring benefit and there was...

15. Revenue earned from supply of software and rendering of maintenance and professional services to customers located in Sri Lanka and Middle East as “Royalty/ FTS/ FIS” -...