Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
HC ruled that renting cinematographic equipment constituted a deemed sale with transfer of right to use, not a taxable service under Section 66 of Finance Act, 1994. The agreement demonstrated transfer of both possession and effective control to the hirer, evidenced by inspection rights, damage reporting obligations, and equipment condition acknowledgments. The transaction qualified as deemed sale under Article 366(29A) of Constitution, involving transfer of right to use goods for valuable consideration. HC quashed the original order that had incorrectly interpreted the agreement terms regarding possession and control transfer. The case established that where right of possession and effective control transfers, service tax cannot be levied as it falls outside the scope of taxable services.
HC ruled that renting cinematographic equipment constituted a deemed sale with transfer of right to use, not a taxable service under Section 66 of Finance Act, 1994. The agreement demonstrated transfer of both possession and effective control to the hirer, evidenced by inspection rights, damage reporting obligations, and equipment condition acknowledgments. The transaction qualified as deemed sale under Article 366(29A) of Constitution, involving transfer of right to use goods for valuable consideration. HC quashed the original order that had incorrectly interpreted the agreement terms regarding possession and control transfer. The case established that where right of possession and effective control transfers, service tax cannot be levied as it falls outside the scope of taxable services.
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