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...
CESTAT held banking charges paid for obtaining bank guarantee related to VAT refund on exported goods qualified as eligible input services for CENVAT credit. The services were found to satisfy both the 'means' and 'inclusion' parts of Rule 2(l) definition of input services, being connected to procurement of raw materials used in manufacturing. The Tribunal rejected the department's contention that services were not directly related to manufacturing, ruling that indirect connection through raw materials was sufficient. Extended period limitation and penalties were struck down as the matter involved interpretation of law. The appeal was allowed, setting aside the original order denying CENVAT credit.
CESTAT held banking charges paid for obtaining bank guarantee related to VAT refund on exported goods qualified as eligible input services for CENVAT credit. The services were found to satisfy both the 'means' and 'inclusion' parts of Rule 2(l) definition of input services, being connected to procurement of raw materials used in manufacturing. The Tribunal rejected the department's contention that services were not directly related to manufacturing, ruling that indirect connection through raw materials was sufficient. Extended period limitation and penalties were struck down as the matter involved interpretation of law. The appeal was allowed, setting aside the original order denying CENVAT credit.
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