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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Retrospective Exemption and Refund: Section 135 of Finance Act, 2025 provides retrospective exemption from service tax for reinsurance services provided by insurance companies under Weather Based Crop Insurance Scheme and Modified National Agricultural Insurance Scheme for the period April 1, 2011 to June 30, 2017. No service tax shall be levied or collected for these services during this period. Refunds will be granted for previously collected service tax, provided applications are submitted within six months from the date the Finance Bill, 2025 receives Presidential assent. Despite the omission of Chapter V of Finance Act, 1994, its provisions will apply retrospectively for processing these refunds.
Retrospective Exemption and Refund: Section 135 of Finance Act, 2025 provides retrospective exemption from service tax for reinsurance services provided by insurance companies under Weather Based Crop Insurance Scheme and Modified National Agricultural Insurance Scheme for the period April 1, 2011 to June 30, 2017. No service tax shall be levied or collected for these services during this period. Refunds will be granted for previously collected service tax, provided applications are submitted within six months from the date the Finance Bill, 2025 receives Presidential assent. Despite the omission of Chapter V of Finance Act, 1994, its provisions will apply retrospectively for processing these refunds.
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