Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Page of 4816
Press 'Enter' after typing page number.
1461 to 1480 of 96301 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The CESTAT held that the demand of Rs.80,61,111/- (including Education Cess and Secondary and Higher Education Cess) raised on the ground of difference between the taxable value recorded in Service Tax returns and the income shown in the Balance Sheet and Profit & Loss Account is not sustainable. The appellant had not suppressed any information from the Department, and there was no mala fide intent or intention to evade payment of tax established. Invoking the extended period of limitation was not justified as per the Supreme Court's judgment in Nirlon Ltd. case. The entire demand of Service Tax for the financial years 2007-08 to 2010-11 was set aside on the ground of limitation. The demand of Rs.46,931/- on advances received from customers was also set aside as these were refundable security deposits not liable to Service Tax. However, the appellant was eligible to avail the CENVAT Credit of Rs.69,73,243/- as the input invoices met the requirements under the CENVAT Credit Rules. Consequently, the penalties imposed u/s 78 of the Finance Act and Rule 15(2) of the CENVAT Credit Rules were also set aside.
The CESTAT held that the demand of Rs.80,61,111/- (including Education Cess and Secondary and Higher Education Cess) raised on the ground of difference between the taxable value recorded in Service Tax returns and the income shown in the Balance Sheet and Profit & Loss Account is not sustainable. The appellant had not suppressed any information from the Department, and there was no mala fide intent or intention to evade payment of tax established. Invoking the extended period of limitation was not justified as per the Supreme Court's judgment in Nirlon Ltd. case. The entire demand of Service Tax for the financial years 2007-08 to 2010-11 was set aside on the ground of limitation. The demand of Rs.46,931/- on advances received from customers was also set aside as these were refundable security deposits not liable to Service Tax. However, the appellant was eligible to avail the CENVAT Credit of Rs.69,73,243/- as the input invoices met the requirements under the CENVAT Credit Rules. Consequently, the penalties imposed u/s 78 of the Finance Act and Rule 15(2) of the CENVAT Credit Rules were also set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
