Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
The CESTAT held that the transactions do not constitute "Supply of Tangible Goods Service" u/s 65(105)(zzzzj) of the Finance Act, 1994. The Appellant had possession, control, and right to use the packaging material once delivered by Volvo. Volvo's access to information did not confer control or possession over the material. The Appellant could use the material as deemed fit, was liable for damages, and had more than mere custody. The CESTAT relied on the coordinate bench decision in CARAVEL LOGISTICS PVT. LTD. case applying the Supreme Court's five-fold test in BSNL case. Consequently, the appeal was allowed.
The CESTAT held that the transactions do not constitute "Supply of Tangible Goods Service" u/s 65(105)(zzzzj) of the Finance Act, 1994. The Appellant had possession, control, and right to use the packaging material once delivered by Volvo. Volvo's access to information did not confer control or possession over the material. The Appellant could use the material as deemed fit, was liable for damages, and had more than mere custody. The CESTAT relied on the coordinate bench decision in CARAVEL LOGISTICS PVT. LTD. case applying the Supreme Court's five-fold test in BSNL case. Consequently, the appeal was allowed.
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