Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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CESTAT ruled that Delayed Payment Charges (DPC) received by the appellant stockbroker from clients are not includible in the taxable value for service tax purposes. The Tribunal determined that DPCs constitute penal charges for delayed payments rather than consideration for providing a separate service. Applying principles established in Bhayana Builders and other precedents, CESTAT emphasized that "consideration" under Section 67 of the Finance Act must flow from the service recipient to the service provider as payment for services rendered. The Tribunal noted that Circular 137/25/2011 specifically clarifies that DPCs are not chargeable to service tax as they represent penalties rather than service fees. The impugned order was set aside and the appeal allowed.
CESTAT ruled that Delayed Payment Charges (DPC) received by the appellant stockbroker from clients are not includible in the taxable value for service tax purposes. The Tribunal determined that DPCs constitute penal charges for delayed payments rather than consideration for providing a separate service. Applying principles established in Bhayana Builders and other precedents, CESTAT emphasized that "consideration" under Section 67 of the Finance Act must flow from the service recipient to the service provider as payment for services rendered. The Tribunal noted that Circular 137/25/2011 specifically clarifies that DPCs are not chargeable to service tax as they represent penalties rather than service fees. The impugned order was set aside and the appeal allowed.
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