Transfer pricing comparability under TNMM: foreign exchange loss on ECB excluded from operating cost, and a functionally dissimilar comparator removed...
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Taxability of services provided without issuance of 'consignment note' under 'goods transport agency' service category on reverse charge basis was examined. It was held that to qualify as 'goods transport agency', two conditions must be fulfilled: providing service in relation to transport of goods by road and issuance of consignment note. Absence of consignment note precludes categorization as 'goods transport agency' service, rendering demand of service tax unsustainable. Extended period of limitation was also not invokable due to lack of suppression of facts with intent to evade tax, as Department was aware of relevant facts and appellant had sought clarification on taxability. Consequently, the impugned order confirming demand and penalties was set aside, and the appeal was allowed.
Taxability of services provided without issuance of 'consignment note' under 'goods transport agency' service category on reverse charge basis was examined. It was held that to qualify as 'goods transport agency', two conditions must be fulfilled: providing service in relation to transport of goods by road and issuance of consignment note. Absence of consignment note precludes categorization as 'goods transport agency' service, rendering demand of service tax unsustainable. Extended period of limitation was also not invokable due to lack of suppression of facts with intent to evade tax, as Department was aware of relevant facts and appellant had sought clarification on taxability. Consequently, the impugned order confirming demand and penalties was set aside, and the appeal was allowed.
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