Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Levy of service tax - Amounts received by the appellant from Priyadarshini Gas Seva [PGS] - The Tribunal notes that PGS is a unit of the appellant, and it's not uncommon for units to transfer profits to their parent company. The mere transfer of funds does not inherently indicate consideration for a service provided. The Tribunal highlights that the Commissioner's finding, suggesting that the negotiation with Indian Oil Company (IOC) for PGS distributorship constituted a service, is flawed. The negotiation, which occurred in 1984-1986 when there was no service tax levy, cannot retroactively be considered a taxable service. - Ultimately, the Tribunal sets aside the demand under this head, affirming that the negotiation conducted by the parent company on behalf of its unit does not constitute a taxable service.
Levy of service tax - Amounts received by the appellant from Priyadarshini Gas Seva [PGS] - The Tribunal notes that PGS is a unit of the appellant, and it's not uncommon for units to transfer profits to their parent company. The mere transfer of funds does not inherently indicate consideration for a service provided. The Tribunal highlights that the Commissioner's finding, suggesting that the negotiation with Indian Oil Company (IOC) for PGS distributorship constituted a service, is flawed. The negotiation, which occurred in 1984-1986 when there was no service tax levy, cannot retroactively be considered a taxable service. - Ultimately, the Tribunal sets aside the demand under this head, affirming that the negotiation conducted by the parent company on behalf of its unit does not constitute a taxable service.
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