Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
Government grants-in-aid do not constitute consideration for Business Exhibition Service where agreements impose only utilisation and accounting conditions, without an obligation to provide services, invoices, or quid pro quo. As reimbursement of specified expenditure, they fall outside taxable value, which is confined to amounts charged for taxable services; the related demand was set aside. Extended limitation cannot apply where grants and expenditure were recorded, the taxpayer paid tax on other services, and a bona fide belief of non-taxability negated suppression with intent to evade. Reverse-charge demands were likewise time-barred because recorded liabilities were revenue neutral through available Cenvat credit.
Government grants-in-aid do not constitute consideration for Business Exhibition Service where agreements impose only utilisation and accounting conditions, without an obligation to provide services, invoices, or quid pro quo. As reimbursement of specified expenditure, they fall outside taxable value, which is confined to amounts charged for taxable services; the related demand was set aside. Extended limitation cannot apply where grants and expenditure were recorded, the taxpayer paid tax on other services, and a bona fide belief of non-taxability negated suppression with intent to evade. Reverse-charge demands were likewise time-barred because recorded liabilities were revenue neutral through available Cenvat credit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
