Hi all.
I have one question for you people.
Service Tax input credit of financial year 2008-09 rejected by service tax department to some extent. whether rejected portion is allowable expenditure under income tax for 2009-10?
Sathyanarayana.B (Senior Executive- Finance) (45 Points)
24 September 2009Hi all.
I have one question for you people.
Service Tax input credit of financial year 2008-09 rejected by service tax department to some extent. whether rejected portion is allowable expenditure under income tax for 2009-10?
Rajeev
(www.rkmco.com)
(985 Points)
Replied 25 September 2009
yes normal course of business , allowable u/s 37(1), even interest on ST should be allowed , since it would be compensatory in nature