addition u/s 43B
This query is : Open
09 January 2009
A proprietorship firm providing entertainment services raised 4 bills for fee aggregating rs. 20 lacs and service tax thereon rs. 2.5 lacs (approx.) in F.Y.07-08.Entire 22.5 lacs was realized in F.Y.2007-08 itself. It credited rs. 20 lacs to profit & loss account and showed service tax rs. 2.5 lacs payable on liability side of balance sheet.It failed to pay service tax liability till filing of Income tax return due date i.e. 30th Sept. 2008. my query is
Since service tax is not routed through profit & loss account of the firm ,is the outstanding service tax amount (which is realized but unpaid till return due date )is liable to be added to taxable income u/s 43B.if yes, under what proviso ?
Since service tax is not routed through profit & loss account of the firm ,is the outstanding service tax amount (which is realized but unpaid till return due date )is liable to be added to taxable income u/s 43B.if yes, under what proviso ?
09 January 2009
Service tax payable,in the instant case,cannot be disallowed u/s 43B since it is not routed through the p&l a/c.
09 January 2009
Citation:-
ACIT Vs. Real Image Technologies Pvt Ltd 9 DTR 261 (ITAT Chennai).
ACIT Vs. Real Image Technologies Pvt Ltd 9 DTR 261 (ITAT Chennai).
19 January 2009
Than why SALES TAX WHICH APPEARS AS LIABILITY IN BALANCE SHEET AND NOT ROUTED THROUGH PROFIT & LOSS WHEN PAID; IS ADDED TO TAXABLE INCOME ( IF NOT PAID TILL RETURN DATE).IN OTHER WORDS WE CREDIT SALES TAX WHILE MAKING SALES AND WHILE DEPOSITING ,WE DEBIT SALES TAX PAYABLE .HOWEVER IF SALES TAX REMAINS UNPAID TILL RETURN FILING ,WE ADD SALES TAX TO TAXBLE INCOME . WHY ? PLEASE CLARIFY.
21 January 2009
Mr. chackrapani will u plz supply me the CASE DETAILS/DIGEST of ACIT Vs. REAL IMAGE TECHNOLOGOIES P LTD. 9 DTR 261 (ITAT CHENNAI )MY E-MAIL ID IS surindar33@gmail.com .THANKING YOU
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
