Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Service tax assessment case involving suppression of taxable value by appellant in ST-3 returns. Demand raised along with interest and penalty on appellant and directors. Appellant eligible for 33% abatement on taxable value for construction services with supply of materials under Notification 01/2006. Extended period of limitation invoked incorrectly as appellant filed returns regularly without objections from department earlier. After allowing abatement, tax payable for normal period less than already paid, hence no additional demand sustainable. Consequently, interest and penalties on appellant and directors set aside by CESTAT.
Service tax assessment case involving suppression of taxable value by appellant in ST-3 returns. Demand raised along with interest and penalty on appellant and directors. Appellant eligible for 33% abatement on taxable value for construction services with supply of materials under Notification 01/2006. Extended period of limitation invoked incorrectly as appellant filed returns regularly without objections from department earlier. After allowing abatement, tax payable for normal period less than already paid, hence no additional demand sustainable. Consequently, interest and penalties on appellant and directors set aside by CESTAT.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
