Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Valuation of service - works contract service or not - The CESTAT held that the appellant’s contracts were clearly split into goods and services, which did not meet the criteria of a 'works contract' under the relevant tax laws. It was noted that the appellant had appropriately paid taxes—VAT on goods and service tax on installation services—as per the contract terms, which were well-supported by invoices. - Further the tribunal held that since the repeal of certain provisions and notifications post-July 2012, the show cause notices based on these repealed laws were incorrect. - Ultimately, the Tribunal concluded that the respondent’s approach of inclusion / amalgamating the value of goods and services for taxation under a 'works contract' was unfounded.
Valuation of service - works contract service or not - The CESTAT held that the appellant’s contracts were clearly split into goods and services, which did not meet the criteria of a 'works contract' under the relevant tax laws. It was noted that the appellant had appropriately paid taxes—VAT on goods and service tax on installation services—as per the contract terms, which were well-supported by invoices. - Further the tribunal held that since the repeal of certain provisions and notifications post-July 2012, the show cause notices based on these repealed laws were incorrect. - Ultimately, the Tribunal concluded that the respondent’s approach of inclusion / amalgamating the value of goods and services for taxation under a 'works contract' was unfounded.
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