Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Classification of interest charged by a manufacturer on delayed payments from customers for the sale of excisable goods. The key points are: The interest was classified as a declared service u/s 66E(e) of the Finance Act, making it liable for service tax. However, relying on the Supreme Court's judgment in South Eastern Coalfields Ltd., it was held that penal interest on delayed payments cannot be subject to service tax u/s 66E(e). Consequently, the order classifying the interest as a taxable service was set aside, and the appeal was allowed with consequential relief, following the ratio decidendi of the Supreme Court case.
Classification of interest charged by a manufacturer on delayed payments from customers for the sale of excisable goods. The key points are: The interest was classified as a declared service u/s 66E(e) of the Finance Act, making it liable for service tax. However, relying on the Supreme Court's judgment in South Eastern Coalfields Ltd., it was held that penal interest on delayed payments cannot be subject to service tax u/s 66E(e). Consequently, the order classifying the interest as a taxable service was set aside, and the appeal was allowed with consequential relief, following the ratio decidendi of the Supreme Court case.
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