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 ruled that liquidated damages/penalty charges collected by M/s. Gujarat Industries Power Company Limited from vendors/suppliers for contract breach do not constitute a declared service under Section 66E(e) of the Finance Act, 1994. The tribunal consistently held that service tax demand on liquidated charges is unsustainable, specifically affirming that penalties for non-completion of contractual timelines are not taxable. The appeal was consequently allowed, exempting such penalty amounts from service tax liability.
CESTAT ruled that liquidated damages/penalty charges collected by M/s. Gujarat Industries Power Company Limited from vendors/suppliers for contract breach do not constitute a declared service under Section 66E(e) of the Finance Act, 1994. The tribunal consistently held that service tax demand on liquidated charges is unsustainable, specifically affirming that penalties for non-completion of contractual timelines are not taxable. The appeal was consequently allowed, exempting such penalty amounts from service tax liability.
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