Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
Freight forwarding on a principal-to-principal basis was treated as an independent transportation arrangement, not a mere intermediary or support activity. The Tribunal accepted that where the forwarder negotiates freight with carriers and customers, procures cargo space on its own account, and bears the legal responsibility and risks of transportation, the amounts recovered from customers for ocean freight and air freight cannot form part of the assessable value for business support service. On that basis, the service tax demand on those freight recoveries was held unsustainable and the impugned order was set aside.
Freight forwarding on a principal-to-principal basis was treated as an independent transportation arrangement, not a mere intermediary or support activity. The Tribunal accepted that where the forwarder negotiates freight with carriers and customers, procures cargo space on its own account, and bears the legal responsibility and risks of transportation, the amounts recovered from customers for ocean freight and air freight cannot form part of the assessable value for business support service. On that basis, the service tax demand on those freight recoveries was held unsustainable and the impugned order was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
