Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Commercial or Industrial Constructions Services - With respect to activity conducted by the assessee, CBEC circular referred to and relied upon by the Tribunal is specific. By virtue of Clause 2 and 8 of the paragraph 3 of the said circular, the activity of laying cables under or alongside roads and alongside railway tracks was clearly opined to be not taxable under the Finance Act, 1994. That view had been formed by the highest administrative authority under the Finance Act, 1994, namely - Central Board of Indirect Taxes and Customs. The Tribunal has not erred in applying that Circular and deleting the proposed demand of service tax liability. - HC
Commercial or Industrial Constructions Services - With respect to activity conducted by the assessee, CBEC circular referred to and relied upon by the Tribunal is specific. By virtue of Clause 2 and 8 of the paragraph 3 of the said circular, the activity of laying cables under or alongside roads and alongside railway tracks was clearly opined to be not taxable under the Finance Act, 1994. That view had been formed by the highest administrative authority under the Finance Act, 1994, namely - Central Board of Indirect Taxes and Customs. The Tribunal has not erred in applying that Circular and deleting the proposed demand of service tax liability. - HC
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