Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Purchase and resale of cargo space by a freight forwarder on its own account was held to be a principal-to-principal trading transaction, not an intermediary or composite taxable service. The Tribunal found that mere markup between buying and selling prices did not prove rendition of Business Support Service or any other service, and the alleged local transportation, cargo handling, labour and facilitation services were unsupported by evidence. It also noted that the appellant bore the risk of unsold space and acted as principal, consistent with the departmental clarification that such activity is not intermediary service. The surplus from resale was treated as business income from trading in space, so the service tax, interest and penalties were set aside.
Purchase and resale of cargo space by a freight forwarder on its own account was held to be a principal-to-principal trading transaction, not an intermediary or composite taxable service. The Tribunal found that mere markup between buying and selling prices did not prove rendition of Business Support Service or any other service, and the alleged local transportation, cargo handling, labour and facilitation services were unsupported by evidence. It also noted that the appellant bore the risk of unsold space and acted as principal, consistent with the departmental clarification that such activity is not intermediary service. The surplus from resale was treated as business income from trading in space, so the service tax, interest and penalties were set aside.
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