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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Liquidated damages arising from breach of contract or forfeiture of amounts like salary or bond money do not constitute consideration for a declared service u/s 66E(e). A service under this section requires an agreement specifically referring to activities like refraining from, tolerating, or doing an act, with consideration flowing for such activity. Any amount charged without nexus to the taxable service cannot be part of the taxable value. Compensation received for financial damages lacks consideration and nexus with any taxable service. The appellant forfeited amounts from the buyer for cancelling a purchase order, treated as breach of contract. Such forfeited amounts do not qualify as consideration for a declared service. Cancellation of contract itself is not a service. Hence, forfeited amounts cannot be taxed as consideration for services.
Liquidated damages arising from breach of contract or forfeiture of amounts like salary or bond money do not constitute consideration for a declared service u/s 66E(e). A service under this section requires an agreement specifically referring to activities like refraining from, tolerating, or doing an act, with consideration flowing for such activity. Any amount charged without nexus to the taxable service cannot be part of the taxable value. Compensation received for financial damages lacks consideration and nexus with any taxable service. The appellant forfeited amounts from the buyer for cancelling a purchase order, treated as breach of contract. Such forfeited amounts do not qualify as consideration for a declared service. Cancellation of contract itself is not a service. Hence, forfeited amounts cannot be taxed as consideration for services.
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