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...
Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Levy of servicetax - (1) MDC for Gas Transportation: The CESTAT ruled that the MDC collected by the appellant cannot be considered as payment for a service provided, especially when gas consumption falls below a certain threshold. Therefore, they held that the appellant is not liable to pay service tax on MDC. - (2) Realization of Sale Value of Gas: Citing a precedent involving GAIL India Limited, the Tribunal found that the marketing margin received by the appellant, which is part of the sale value of gas, does not attract service tax. They emphasized that the nature of the consideration received as marketing margin does not involve a separate service element and is already subject to VAT.
Levy of servicetax - (1) MDC for Gas Transportation: The CESTAT ruled that the MDC collected by the appellant cannot be considered as payment for a service provided, especially when gas consumption falls below a certain threshold. Therefore, they held that the appellant is not liable to pay service tax on MDC. - (2) Realization of Sale Value of Gas: Citing a precedent involving GAIL India Limited, the Tribunal found that the marketing margin received by the appellant, which is part of the sale value of gas, does not attract service tax. They emphasized that the nature of the consideration received as marketing margin does not involve a separate service element and is already subject to VAT.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4927 
