Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The case involved wrongful utilization of CENVAT Credit for service tax liability under Reverse Charge Mechanism. The Tribunal held that utilizing CENVAT Credit for service tax on Reverse Charge Mechanism basis before 01.04.2011 is valid. The demand of Rs.14,36,72,226/- was set aside. However, the admissibility of CENVAT Credit on input services worth Rs.25,99,085/- was remanded for verification by the adjudicating authority. The impugned order was modified to set aside the service tax demand and remanded for verification. The adjudicating authority was instructed to decide the matter within three months. Appeal allowed in part and part matter remanded.
The case involved wrongful utilization of CENVAT Credit for service tax liability under Reverse Charge Mechanism. The Tribunal held that utilizing CENVAT Credit for service tax on Reverse Charge Mechanism basis before 01.04.2011 is valid. The demand of Rs.14,36,72,226/- was set aside. However, the admissibility of CENVAT Credit on input services worth Rs.25,99,085/- was remanded for verification by the adjudicating authority. The impugned order was modified to set aside the service tax demand and remanded for verification. The adjudicating authority was instructed to decide the matter within three months. Appeal allowed in part and part matter remanded.
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