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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CESTAT upheld the levy of service tax on renting of immovable property, rejecting appellant's contention that such activity cannot be considered a service. The Tribunal determined that unless declared ultra vires by a constitutional court, the tax remains valid, noting that five different High Courts had previously affirmed this position. While the Commissioner (Appeals) had set aside the penalty under section 78 of the Finance Act, the penalty of Rs. 10,000/- under section 77 was sustained. The appellant must pay the service tax with appropriate interest. Appeal dismissed.
CESTAT upheld the levy of service tax on renting of immovable property, rejecting appellant's contention that such activity cannot be considered a service. The Tribunal determined that unless declared ultra vires by a constitutional court, the tax remains valid, noting that five different High Courts had previously affirmed this position. While the Commissioner (Appeals) had set aside the penalty under section 78 of the Finance Act, the penalty of Rs. 10,000/- under section 77 was sustained. The appellant must pay the service tax with appropriate interest. Appeal dismissed.
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