Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Agreement to tolerate an act as a declared service requires an independent contractual arrangement specifically providing for tolerance and a direct nexus between that arrangement and consideration. Retention of life-insurance premiums following policy lapse for non-payment or repudiation for mis-declaration did not meet those requirements: the insurance contract contained no separate tolerance agreement, and the policy became void without further insurance service. The retained premium was therefore not consideration for a distinct declared service, and taxing it would also create double taxation. The service-tax demand, interest and penalties were unsustainable.
Agreement to tolerate an act as a declared service requires an independent contractual arrangement specifically providing for tolerance and a direct nexus between that arrangement and consideration. Retention of life-insurance premiums following policy lapse for non-payment or repudiation for mis-declaration did not meet those requirements: the insurance contract contained no separate tolerance agreement, and the policy became void without further insurance service. The retained premium was therefore not consideration for a distinct declared service, and taxing it would also create double taxation. The service-tax demand, interest and penalties were unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
