Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Manpower Recruitment or Supply Agency Service or Business Auxiliary Service classification discussed. Extended period of limitation rightly invoked as certain agreements and invoices were not brought to department's knowledge. Demand of Rs. 1,12,86,898/- on manpower services for June 2005 to March 2007 confirmed along with equal penalty u/s 78. Services provided by overseas service provider under Selling Agreement and Master Agreement examined. Demand for April 2001 to April 2006 set aside as Business Auxiliary Service excludes IT services. Demand from April 2006 to March 2007 remanded for redetermination after considering appellant's submissions on IT service exclusion from Business Auxiliary Service. Penalties except equal penalty u/s 78 set aside.
Manpower Recruitment or Supply Agency Service or Business Auxiliary Service classification discussed. Extended period of limitation rightly invoked as certain agreements and invoices were not brought to department's knowledge. Demand of Rs. 1,12,86,898/- on manpower services for June 2005 to March 2007 confirmed along with equal penalty u/s 78. Services provided by overseas service provider under Selling Agreement and Master Agreement examined. Demand for April 2001 to April 2006 set aside as Business Auxiliary Service excludes IT services. Demand from April 2006 to March 2007 remanded for redetermination after considering appellant's submissions on IT service exclusion from Business Auxiliary Service. Penalties except equal penalty u/s 78 set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
