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 partially allowed the appeal concerning service tax demands on three residential construction projects. For Project Prakruti Nivas, comprising 612 individual villas completed with completion certificate dated 30.03.2009, the Tribunal held no service tax liability existed as construction concluded before 01.07.2010 when Construction of Residential Complex service became taxable. Similarly, Project Sri Vajralayam received regularisation certificate from Deputy Commissioner under Andhra Pradesh Government Order dated 31.12.2007, which CESTAT treated as equivalent to completion certificate under Board Circular 151/2/2012, establishing completion before the taxable period. However, Project Srinivasa Krupa was remanded for redetermination of service tax liability applying 25% taxable value under Rule 2A of Service Tax (Determination of Value) Rules 2006 as amended by Finance Act 2017, requiring recalculation of the demand rather than total consideration value.
CESTAT partially allowed the appeal concerning service tax demands on three residential construction projects. For Project Prakruti Nivas, comprising 612 individual villas completed with completion certificate dated 30.03.2009, the Tribunal held no service tax liability existed as construction concluded before 01.07.2010 when Construction of Residential Complex service became taxable. Similarly, Project Sri Vajralayam received regularisation certificate from Deputy Commissioner under Andhra Pradesh Government Order dated 31.12.2007, which CESTAT treated as equivalent to completion certificate under Board Circular 151/2/2012, establishing completion before the taxable period. However, Project Srinivasa Krupa was remanded for redetermination of service tax liability applying 25% taxable value under Rule 2A of Service Tax (Determination of Value) Rules 2006 as amended by Finance Act 2017, requiring recalculation of the demand rather than total consideration value.
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