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...
Levy of service tax - Auction of abandoned imported goods by the CONCOR - ground rent/storage rendered towards the un-cleared/un-claimed cargo of the importer - The Tribunal emphasized that in the auction transaction of abandoned goods, no service recipient exists, thus no service is provided. They cited Sections 48 and 150 of the Customs Act, 1962, which deal with the sale of goods not cleared, and stressed that these sections make no provision for any service rendered. The Tribunal analyzed the relevant provisions of the Finance Act, 1994, which stipulate that to attract service tax, there must be a taxable service provided to a service recipient in exchange for consideration.
Levy of service tax - Auction of abandoned imported goods by the CONCOR - ground rent/storage rendered towards the un-cleared/un-claimed cargo of the importer - The Tribunal emphasized that in the auction transaction of abandoned goods, no service recipient exists, thus no service is provided. They cited Sections 48 and 150 of the Customs Act, 1962, which deal with the sale of goods not cleared, and stressed that these sections make no provision for any service rendered. The Tribunal analyzed the relevant provisions of the Finance Act, 1994, which stipulate that to attract service tax, there must be a taxable service provided to a service recipient in exchange for consideration.
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