Section 43b of it act
This query is : Resolved
27 December 2013
Dear expert
Xyz ltd receives service tax on the services rendered. Though it does not transfer the amount to Profit n Loss a/c and maintains a separate account for the same namely service tax payable a/c. At the end company was having service tax payable to govt. Whether the service tax collected but not paid to govt can be disallowed u/s 43B?
thanks n regards
Xyz ltd receives service tax on the services rendered. Though it does not transfer the amount to Profit n Loss a/c and maintains a separate account for the same namely service tax payable a/c. At the end company was having service tax payable to govt. Whether the service tax collected but not paid to govt can be disallowed u/s 43B?
thanks n regards
29 December 2013
no. cannot be disallowed.
Refer: Noble & Hewitt (I) Pvt. Ltd. 305 ITR 324 (Del.),
ACIT Vs. Real Image Technology P. Ltd. [ 306 ITR 106]
ACIT, Cir. 3(1), Vs. M/s Biotech Consortium India Ltd., New Delhi. 5th Floor Anurat Bhawan, 210, Deen Dayal Upadhyaya Marg, ITA No. 2841/Del/12 A.Yr. 2009-10
Refer: Noble & Hewitt (I) Pvt. Ltd. 305 ITR 324 (Del.),
ACIT Vs. Real Image Technology P. Ltd. [ 306 ITR 106]
ACIT, Cir. 3(1), Vs. M/s Biotech Consortium India Ltd., New Delhi. 5th Floor Anurat Bhawan, 210, Deen Dayal Upadhyaya Marg, ITA No. 2841/Del/12 A.Yr. 2009-10
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