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...
CESTAT allowed the appeal, setting aside service tax demand and penalties against the company regarding directors' remuneration. The tribunal recognized an employer-employee relationship between the company and its directors, establishing that salary payments subjected to TDS under Income Tax Act are excluded from service tax liability. The court found the remuneration constituted salary, not taxable services, and therefore reversed the original tax assessment. Consequential relief was granted consistent with existing legal precedents on director compensation taxation.
CESTAT allowed the appeal, setting aside service tax demand and penalties against the company regarding directors' remuneration. The tribunal recognized an employer-employee relationship between the company and its directors, establishing that salary payments subjected to TDS under Income Tax Act are excluded from service tax liability. The court found the remuneration constituted salary, not taxable services, and therefore reversed the original tax assessment. Consequential relief was granted consistent with existing legal precedents on director compensation taxation.
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TaxTMI 
TaxTMI 
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