Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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CESTAT held that reimbursable expenses incurred by service provider for client during 2006-07 are not taxable. Relying on SC judgment in Intercontinental Consultants case, the tribunal affirmed that Rule 5(1) of Service Tax Valuation Rules, 2006 was ultra vires Sections 66 and 67 of the Finance Act. The 2015 amendment including reimbursable expenditure in taxable value is prospective and does not impact liability for earlier periods. Consequently, service tax demand, interest, and penalties on reimbursed expenses prior to 2015 amendment stand quashed. Appeal allowed.
CESTAT held that reimbursable expenses incurred by service provider for client during 2006-07 are not taxable. Relying on SC judgment in Intercontinental Consultants case, the tribunal affirmed that Rule 5(1) of Service Tax Valuation Rules, 2006 was ultra vires Sections 66 and 67 of the Finance Act. The 2015 amendment including reimbursable expenditure in taxable value is prospective and does not impact liability for earlier periods. Consequently, service tax demand, interest, and penalties on reimbursed expenses prior to 2015 amendment stand quashed. Appeal allowed.
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