Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Lease of the closed sugar factory premises was treated as renting of factory premises, not mere leasing of land, so service tax liability was upheld on merits and PSU status did not confer any exemption. However, the Tribunal found no suppression with intent to evade because the levy on renting of immovable property was under judicial uncertainty, no tax had been collected from lessees, and no deliberate evasion was shown. As the notice was issued before insertion of section 73(2A) and retrospective operation was not established, the extended period could not be invoked and the normal-period demand also fell. The entire demand was set aside as time-barred.
Lease of the closed sugar factory premises was treated as renting of factory premises, not mere leasing of land, so service tax liability was upheld on merits and PSU status did not confer any exemption. However, the Tribunal found no suppression with intent to evade because the levy on renting of immovable property was under judicial uncertainty, no tax had been collected from lessees, and no deliberate evasion was shown. As the notice was issued before insertion of section 73(2A) and retrospective operation was not established, the extended period could not be invoked and the normal-period demand also fell. The entire demand was set aside as time-barred.
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