Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Merchant discount rate in credit-card transactions is a composite charge comprising the acquiring bank fee, issuing bank interchange fee and platform fee. Where service tax has been paid on the entire merchant discount rate, subsequent allocation of the interchange fee to the issuing bank does not create a separately taxable service. A further levy on that retained interchange fee would amount to double taxation, particularly where there is no revenue loss. Service-tax demands on interchange fee, along with consequential interest and penalties, were therefore unsustainable and set aside.
Merchant discount rate in credit-card transactions is a composite charge comprising the acquiring bank fee, issuing bank interchange fee and platform fee. Where service tax has been paid on the entire merchant discount rate, subsequent allocation of the interchange fee to the issuing bank does not create a separately taxable service. A further levy on that retained interchange fee would amount to double taxation, particularly where there is no revenue loss. Service-tax demands on interchange fee, along with consequential interest and penalties, were therefore unsustainable and set aside.
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