Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Reverse charge on royalty for mining rights was held inapplicable where the appellants had not been shown to hold any mining licence or to have paid royalty as licence holders. The Tribunal accepted the explanation that the accounting entry described as royalty represented only the royalty portion withheld in works contract bills until proof of purchase from licensed vendors was furnished, and not consideration for assignment of any right to use natural resources; the service tax demand therefore failed on merits. It further held that the extended period could not be invoked on balance sheet entries alone, without corroborative evidence of suppression or taxable receipt, so the notices were also barred by limitation.
Reverse charge on royalty for mining rights was held inapplicable where the appellants had not been shown to hold any mining licence or to have paid royalty as licence holders. The Tribunal accepted the explanation that the accounting entry described as royalty represented only the royalty portion withheld in works contract bills until proof of purchase from licensed vendors was furnished, and not consideration for assignment of any right to use natural resources; the service tax demand therefore failed on merits. It further held that the extended period could not be invoked on balance sheet entries alone, without corroborative evidence of suppression or taxable receipt, so the notices were also barred by limitation.
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