SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
CESTAT analyzed levy of service tax on educational programs from 01.5.2011 to 30.06.2017. Tribunal held that pre-2011 tax applicability was institute-specific while post-2011 became course-specific. The appellant, not a Commercial Coaching Institute, was exempt for recognized courses. Referring to legal precedents, recognition by law is crucial for tax liability. Absence of evidence for recognition led to tax liability. No exemption under Notification 33/2011 or Section 66D(l). Tax liability started from 01.03.2016. Claim of exemption under Indian Institute of Management Act, 2017 dismissed. Demands restricted to normal limitation period due to evolving laws. Penalties set aside, demands confirmed with interest. Appeal remanded for tax determination within normal limitation period.
CESTAT analyzed levy of service tax on educational programs from 01.5.2011 to 30.06.2017. Tribunal held that pre-2011 tax applicability was institute-specific while post-2011 became course-specific. The appellant, not a Commercial Coaching Institute, was exempt for recognized courses. Referring to legal precedents, recognition by law is crucial for tax liability. Absence of evidence for recognition led to tax liability. No exemption under Notification 33/2011 or Section 66D(l). Tax liability started from 01.03.2016. Claim of exemption under Indian Institute of Management Act, 2017 dismissed. Demands restricted to normal limitation period due to evolving laws. Penalties set aside, demands confirmed with interest. Appeal remanded for tax determination within normal limitation period.
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