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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Levy of service tax on ATM interchange fees received by State Bank of Hyderabad from SBI for deploying its ATMs in the shared network, and on notional consideration for free ATM services provided to other associate banks and SBI. It holds that since SBI paid service tax as an agent for associate banks, service tax cannot be demanded again from associate banks. The demand for service tax on ATM interchange fees received from SBI is set aside. Regarding notional consideration for free ATM services, it states that no fee was charged as per the contractual understanding, and hence no service tax is leviable. The extended period of limitation u/s 73(1) of the Finance Act was correctly invoked as there was no willful suppression of facts with intent to evade tax. Consequently, the appeals filed by State Bank of India are allowed.
Levy of service tax on ATM interchange fees received by State Bank of Hyderabad from SBI for deploying its ATMs in the shared network, and on notional consideration for free ATM services provided to other associate banks and SBI. It holds that since SBI paid service tax as an agent for associate banks, service tax cannot be demanded again from associate banks. The demand for service tax on ATM interchange fees received from SBI is set aside. Regarding notional consideration for free ATM services, it states that no fee was charged as per the contractual understanding, and hence no service tax is leviable. The extended period of limitation u/s 73(1) of the Finance Act was correctly invoked as there was no willful suppression of facts with intent to evade tax. Consequently, the appeals filed by State Bank of India are allowed.
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