Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
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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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