Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Levy of service tax - Sale of Bought-Out Spares - contracts with a lifetime spares supply mandate - rendering service under the category of "Business Auxiliary Service" or not - The Tribunal found that the transactions were made on a principal-to-principal basis. There was no evidence of an agency relationship or commission-based transactions. - The Tribunal held that mere trading of goods, including spares, is outside the purview of "service" u/s 66D(e) and covered under the Negative List. Therefore, no service tax can be demanded on such transactions, especially when VAT is already paid.
Levy of service tax - Sale of Bought-Out Spares - contracts with a lifetime spares supply mandate - rendering service under the category of "Business Auxiliary Service" or not - The Tribunal found that the transactions were made on a principal-to-principal basis. There was no evidence of an agency relationship or commission-based transactions. - The Tribunal held that mere trading of goods, including spares, is outside the purview of "service" u/s 66D(e) and covered under the Negative List. Therefore, no service tax can be demanded on such transactions, especially when VAT is already paid.
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