Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Supply of Tangible Goods - appellant had provided the excavators & JCB machines without transferring right of possession & effective control - The tribunal found that the transactions in question, covered by both long-term and short-term charter agreements regarding tankers, qualified as a transfer of the right to use goods with possession and effective control being transferred to the lessee, thereby falling outside the scope of service tax liability. Consequently, the demand for service tax, along with interest and penalties imposed, set aside.
Supply of Tangible Goods - appellant had provided the excavators & JCB machines without transferring right of possession & effective control - The tribunal found that the transactions in question, covered by both long-term and short-term charter agreements regarding tankers, qualified as a transfer of the right to use goods with possession and effective control being transferred to the lessee, thereby falling outside the scope of service tax liability. Consequently, the demand for service tax, along with interest and penalties imposed, set aside.
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