SC reverses HC, grants
exemption from ‘entertainment tax’ on gate receipts from live musical
concert/program under Gujarat Entertainment Tax Act, 1977 (Act); Notes that
Section 3A was brought in year 1998 whereby Schedule III specified list of
entertainments outside ambit of charging Section 3 and first item of said
Schedule read as, “All kinds of musical programmes including musical nights and
opera”; Perusing speech of Finance Minister which led to incorporation of
Section 3A, elucidates that, “all kinds of musical programmes, without any
qualification, have been sought to be taken out of the purview of the charging
section”; Consequently, HC’s denial of exemption to assessee on the ground that
musical concert organized was not for purposes of promotion of educational,
cultural or charitable purposes activities as required u/s 29 but for
commercial purposes, is untenable when form of entertainment is included in
Schedule III; Remarks that, “If a form of entertainment is not taxable under
Section 3A of the Act we do not see how the requirement of exemption and
necessity to conform to the requirement of exemption can apply to a non-taxable
form of entertainment” : SC
Subscribe to:
Post Comments (Atom)
Is Opting for Section 115BAA Like a Life Sentence? Debunking the Myth
The introduction of Section 115BAA under the Income Tax Act, 1961 offered a lucrative flat tax rate for domestic companies in exchange for f...
-
Section Particulars TDS Rate Individual/ HUF (Indian Resident)(in %) TDS Rate for (NRI) in India (in %) ...
-
In this post, I will discuss Secretarial Standards related to Proxies under SS – 2. Right to Appoint: A Member entitled to attend and ...
-
Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
-
Particulars in Part 1 and Part 2 of Step-2 of registration form are required to be exactly the same as reported in the TDS statement. Plea...
-
· SC dismisses SLP to hold that capital reduction leads to transfer of shares and exigible to capital gains taxation
-
Key Points Article 13: Capital Gains Taxation Article 13(4): Exempts capital gains from taxation in India for residen...
-
Regulatory Updates: Customs Regulations: The DGFT revised the Handbook of Procedures for the General Authorization for Export after Repair...
-
This Tax Alert summarizes the recent Notification [1] and Circular [2] issued by Central Board of Indirect Taxes and Customs (CBIC) addr...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
The circular of the Board dt. 28.06.1965 No. 17 (XL-36), provides for inspection fees and fees for certified copies of assessment and...
No comments:
Post a Comment