Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
The appellant availed CENVAT credit on intellectual property service received from the Input Service Distributor (ISD), TSL Kolkata. The Revenue denied the credit to the appellant despite not disputing its availment by TSL Kolkata. CESTAT held that since TSL Kolkata's credit availment was undisputed, the appellant was entitled to take the distributed credit based on invoices issued by ISD. Reversal of credit by appellant was not required. The impugned order denying credit was set aside, and the appeal was allowed.
The appellant availed CENVAT credit on intellectual property service received from the Input Service Distributor (ISD), TSL Kolkata. The Revenue denied the credit to the appellant despite not disputing its availment by TSL Kolkata. CESTAT held that since TSL Kolkata's credit availment was undisputed, the appellant was entitled to take the distributed credit based on invoices issued by ISD. Reversal of credit by appellant was not required. The impugned order denying credit was set aside, and the appeal was allowed.
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