Case Law Details
Case Name : Principal CIT Vs Tops Security Ltd. (Bombay High Court)
Related Assessment Year : 2006-07
Courts :
All High Courts Bombay High Court
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Pr. CIT Vs Tops Security Ltd. (Bombay High Court)
Section 43B does not contemplate liability to pay service tax before actual receipt of the funds in the account of the assessee. Hence the liability to pay service tax into the Treasury will arise only upon the assessee receiving the funds and not otherwise. Thus the consideration has to be actually received and thereupon the liability will arise. Hence, the liability claimed by the assessee was rightly allowed by the Tribunal.
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