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Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
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Excluding services already treated as exempt, the residual...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set aside
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Excluding services already treated as exempt, the residual taxable turnover for construction of Anganwadi Kendras fell below the small service provider threshold under Notification No. 33/2012-ST; Explanation (B) excludes services exempt under another notification from aggregate value, so the related service tax demand was set aside. Amounts recorded as legal expenses were identified as expenditure for purchasing stamp papers, supported by government records, rather than consideration for legal services; accordingly, reverse-charge service tax was not payable. Since both tax demands failed, the penalties, being consequential, were also set aside. The appeal was therefore allowed and the impugned order was annulled.
Excluding services already treated as exempt, the residual taxable turnover for construction of Anganwadi Kendras fell below the small service provider threshold under Notification No. 33/2012-ST; Explanation (B) excludes services exempt under another notification from aggregate value, so the related service tax demand was set aside. Amounts recorded as legal expenses were identified as expenditure for purchasing stamp papers, supported by government records, rather than consideration for legal services; accordingly, reverse-charge service tax was not payable. Since both tax demands failed, the penalties, being consequential, were also set aside. The appeal was therefore allowed and the impugned order was annulled.
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