Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
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Service tax on works contracts and the taxability of the value of goods used in such contracts. It clarifies that service tax can only be levied on the service component, not the goods component, of works contracts u/s 65(105)(zzzza) of the Finance Act, 1994. Other clauses of Section 65(105) cover only services simpliciter and cannot be invoked for works contracts, as held in Larsen & Toubro case. The demand of service tax u/s 65(105)(zzzh) for construction of residential complexes rendered as works contracts cannot be sustained. The Tribunal concludes that the demand, interest, and penalties on the appellant cannot be upheld and need to be set aside.
Service tax on works contracts and the taxability of the value of goods used in such contracts. It clarifies that service tax can only be levied on the service component, not the goods component, of works contracts u/s 65(105)(zzzza) of the Finance Act, 1994. Other clauses of Section 65(105) cover only services simpliciter and cannot be invoked for works contracts, as held in Larsen & Toubro case. The demand of service tax u/s 65(105)(zzzh) for construction of residential complexes rendered as works contracts cannot be sustained. The Tribunal concludes that the demand, interest, and penalties on the appellant cannot be upheld and need to be set aside.
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