Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Faculty payments were held to fall under a contract for service, not a contract of service, so the recipients were independent professionals rather than employees. Administrative controls such as working hours, attendance requirements, restrictions on outside teaching, and curriculum-based supervision were treated as functional measures and not conclusive proof of an employer-employee relationship. The Tribunal also noted that the faculty were paid professional fees with a variable lecture-based component, received no employment benefits, had no written employment contract, and had reported the receipts as professional income under section 44ADA. TDS under section 194J was therefore correctly deducted, and the assessee could not be treated as in default under sections 201(1) and 201(1A); those orders were quashed.
Faculty payments were held to fall under a contract for service, not a contract of service, so the recipients were independent professionals rather than employees. Administrative controls such as working hours, attendance requirements, restrictions on outside teaching, and curriculum-based supervision were treated as functional measures and not conclusive proof of an employer-employee relationship. The Tribunal also noted that the faculty were paid professional fees with a variable lecture-based component, received no employment benefits, had no written employment contract, and had reported the receipts as professional income under section 44ADA. TDS under section 194J was therefore correctly deducted, and the assessee could not be treated as in default under sections 201(1) and 201(1A); those orders were quashed.
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