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...
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CESTAT adjudicated a service tax dispute involving a 100% Export Oriented Unit's foreign transactions. The tribunal held that no service tax was leviable where the foreign bank and buyer were both located outside India, and the service was provided outside the taxable territory. The appellant was not considered the direct service recipient, and the charges were deemed part of sale terms rather than a taxable service. The tribunal found no direct transaction between the appellant and foreign service providers, rendering the service tax demand unsustainable. Consequently, the appeal was allowed, setting aside the original order and negating the service tax liability under the reverse charge mechanism.
CESTAT adjudicated a service tax dispute involving a 100% Export Oriented Unit's foreign transactions. The tribunal held that no service tax was leviable where the foreign bank and buyer were both located outside India, and the service was provided outside the taxable territory. The appellant was not considered the direct service recipient, and the charges were deemed part of sale terms rather than a taxable service. The tribunal found no direct transaction between the appellant and foreign service providers, rendering the service tax demand unsustainable. Consequently, the appeal was allowed, setting aside the original order and negating the service tax liability under the reverse charge mechanism.
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