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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HC upheld constitutional validity of service tax provisions under Finance Act 1994 sub-clauses (zzzzv) & (zzzzw) of clause 105, Sec. 65. Parliament's authority to levy service tax derives from Entry 97 List I (residuary powers) of Constitution. Court confirmed distinct taxable events can exist within single transaction - service tax under federal jurisdiction and sales tax under state powers (Entry 54 List II) are mutually exclusive with different tax incidences. Multiple taxes permissible when imposed under different statutes with distinct aspects. State's power to levy sales tax does not conflict with federal authority to impose service tax as they target separate components of transaction. Appeal challenging constitutional validity dismissed.
HC upheld constitutional validity of service tax provisions under Finance Act 1994 sub-clauses (zzzzv) & (zzzzw) of clause 105, Sec. 65. Parliament's authority to levy service tax derives from Entry 97 List I (residuary powers) of Constitution. Court confirmed distinct taxable events can exist within single transaction - service tax under federal jurisdiction and sales tax under state powers (Entry 54 List II) are mutually exclusive with different tax incidences. Multiple taxes permissible when imposed under different statutes with distinct aspects. State's power to levy sales tax does not conflict with federal authority to impose service tax as they target separate components of transaction. Appeal challenging constitutional validity dismissed.
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