Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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SC determined service tax cannot be levied on lottery ticket sales between state governments and distributors. The relationship between Government of Sikkim and distributors was established as principal-to-principal, not principal-agent. The Court held that conducting lotteries falls within "betting and gambling" under Entry 62-List II of Seventh Schedule, placing it under state jurisdiction. Parliamentary amendments to Finance Act, 1994 attempting to impose service tax on lottery distributors were deemed ineffective since no service was rendered in an agency capacity. The Court emphasized that while lottery tickets constitute actionable claims, conducting lotteries is fundamentally a betting and gambling activity regulated under state authority. Appeals by Union of India were dismissed, affirming states' exclusive right to tax such transactions.
SC determined service tax cannot be levied on lottery ticket sales between state governments and distributors. The relationship between Government of Sikkim and distributors was established as principal-to-principal, not principal-agent. The Court held that conducting lotteries falls within "betting and gambling" under Entry 62-List II of Seventh Schedule, placing it under state jurisdiction. Parliamentary amendments to Finance Act, 1994 attempting to impose service tax on lottery distributors were deemed ineffective since no service was rendered in an agency capacity. The Court emphasized that while lottery tickets constitute actionable claims, conducting lotteries is fundamentally a betting and gambling activity regulated under state authority. Appeals by Union of India were dismissed, affirming states' exclusive right to tax such transactions.
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