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 ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
CESTAT Mumbai addressed CENVAT Credit issues on Rent-a-Cab services and insurance services u/s Rule 2(l) of Cenvat Credit Rules, 2004. Rent-a-Cab services were denied credit initially, but tribunal allowed it as the vehicles were used for output services. Motor vehicles used did not qualify as capital goods. Insurance services were deemed eligible as they were not for personal use or employee consumption. Tribunal cited precedent for insurance service credit. Services excluded post-amendment were listed, but insurance services were found eligible for credit. Impugned order partially allowed appeal for insurance services but denied for Rent-a-Cab services.
CESTAT Mumbai addressed CENVAT Credit issues on Rent-a-Cab services and insurance services u/s Rule 2(l) of Cenvat Credit Rules, 2004. Rent-a-Cab services were denied credit initially, but tribunal allowed it as the vehicles were used for output services. Motor vehicles used did not qualify as capital goods. Insurance services were deemed eligible as they were not for personal use or employee consumption. Tribunal cited precedent for insurance service credit. Services excluded post-amendment were listed, but insurance services were found eligible for credit. Impugned order partially allowed appeal for insurance services but denied for Rent-a-Cab services.
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