Contingent deposits from the leasing/hire purchase customers ...

Case Laws Income Tax

September 14, 2012

Contingent deposits from the leasing/hire purchase customers with a view to protect themselves from sales tax liability - assessee claims that it is refundable in case he wins the sales tax case - held as taxable income - SC

View Source

← Previous Next →

Contingent deposits from the leasing/hire purchase customers ...

Case Laws Income Tax

September 14, 2012

You may also like:

Demand of service tax on the interest earned from hire purchase finance transactions. - The Tribunal observes that the ownership of the goods remains with the customers,...

Revenue vs. capital expenditure - hire-purchase v/s agreement of lease - right to purchase to be exercised after expiry of certain period - held as lease transaction /...

Input tax credit - ST paid on the Motor cars of seating capacity not exceeding 13 (including Driver) leased or rented with Operators to the Vendors is not available to...

Claim of Interest u/s.36(1)(iii) - security deposits paid to director’s wife for taking her bungalow on lease - The said property had been taken on lease by the assessee...

Hire purchase agreement - applicant argued that hire purchase transactions are essentially financial services and are not subject to sales tax - argument rejected - HC

Depreciation on non-existing assets - All the facts go to prove that hire purchase and lease transaction were only paper transactions and there was no genuine purchase...

Accrual of income - Nature of Lease – Finance by hire purchase lease – classification as per Accounting Standard 19 (AS-19) - the question has to be seen from the terms...

Unexplained cash deposits in bank account - The claim of the assessee remained as a bald claim only followed by no evidence. Why the depositors will deposit their funds...

Oppression and Mismanagement - Validity of the Lease Deed - Doctrine of Res Sub-Judice - Appellants argued that the Tribunal overstepped its jurisdiction by setting...

Hire purchase and financial lease service - Interest on loan is exempted from service tax is not to be included in the taxable service - stay granted - AT

Depreciation on assets of hire purchase and leasing business – setting up of new business i.e. new source of income - There is no interconnection between the businesses...

Pre-deposit - input credit of purchases from dealers having cancelled /abinitio Tin - to disallow tax credit on any purchase, it has to be established that it is in...

Recovery of service tax - supply of tangible goods for use [STGU] service or not - supply of diesel generators to customers on hire basis - so long as the effective...

Scope of Deposits - amounts collected by the petitioners for sale of immovable property as advance - would come under the purview of ‘deposits’ or would exempt from the...

Cancellation of lease deed by NOIDA did not confer the Corporate Debtor the status of a tenant holding over within Section 116 of the Transfer of Property Act, 1882....

Quick Updates: