Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The case involved a dispute regarding the applicability of service tax on corporate guarantee fees u/s 65(12)(a)(ix) of the Finance Act. The tribunal held that providing a corporate guarantee does not constitute Banking and Other Financial Services (BOFS) and is not related to lending activity. Citing precedents, the tribunal concluded that the corporate guarantee does not fall within the ambit of lending activity. The demand for service tax u/s reverse charge mechanism prior to 01.07.2012 was set aside as corporate guarantee does not qualify as BOFS. For the period post 01.07.2012, since the appellant had already paid the tax liability, it cannot be demanded again. The tribunal also found that the invocation of the extended period was unjustified as there was no evidence of mala fide intention to evade payment. Consequently, the demand for the period from 2009-2010 to 1st July 2012 was set aside, and the appeal was allowed.
The case involved a dispute regarding the applicability of service tax on corporate guarantee fees u/s 65(12)(a)(ix) of the Finance Act. The tribunal held that providing a corporate guarantee does not constitute Banking and Other Financial Services (BOFS) and is not related to lending activity. Citing precedents, the tribunal concluded that the corporate guarantee does not fall within the ambit of lending activity. The demand for service tax u/s reverse charge mechanism prior to 01.07.2012 was set aside as corporate guarantee does not qualify as BOFS. For the period post 01.07.2012, since the appellant had already paid the tax liability, it cannot be demanded again. The tribunal also found that the invocation of the extended period was unjustified as there was no evidence of mala fide intention to evade payment. Consequently, the demand for the period from 2009-2010 to 1st July 2012 was set aside, and the appeal was allowed.
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