Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
CESTAT ruled that the appellant's software solution, customized to meet clients' specific business requirements with modifications to source code, constituted a sale of goods rather than a service. The transaction involved transferring full control and possession of the customized software to clients with exclusive usage rights, while intellectual property remained with the appellant. The license fee collected was correctly subjected to VAT by the appellant and cannot simultaneously be liable for service tax, as these taxes are mutually exclusive. Following Quick Heal Technologies v. CST, Delhi [2020], the Tribunal held that the transaction constituted a sale of goods rather than provision of services. The appeal was allowed, setting aside the service tax demand, interest, and penalties.
CESTAT ruled that the appellant's software solution, customized to meet clients' specific business requirements with modifications to source code, constituted a sale of goods rather than a service. The transaction involved transferring full control and possession of the customized software to clients with exclusive usage rights, while intellectual property remained with the appellant. The license fee collected was correctly subjected to VAT by the appellant and cannot simultaneously be liable for service tax, as these taxes are mutually exclusive. Following Quick Heal Technologies v. CST, Delhi [2020], the Tribunal held that the transaction constituted a sale of goods rather than provision of services. The appeal was allowed, setting aside the service tax demand, interest, and penalties.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
