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 held that the impugned service-tax demand, founded solely on CBDT data without independent corroborative evidence from service-tax records, was unsustainable; mere entries in income-tax filings do not establish liability under the Finance Act. The Tribunal found the appellants rendered arranging-transport services but did not issue consignment notes, and therefore the receipts fell within the negative list exclusion (s.66D(P)(i)(A)); accordingly the service was not taxable as GTA. Suppression with intent to evade tax was not established, so the extended period of limitation could not be invoked. Consequent demands of service tax, interest and penalty were set aside and the appeal was allowed.
CESTAT held that the impugned service-tax demand, founded solely on CBDT data without independent corroborative evidence from service-tax records, was unsustainable; mere entries in income-tax filings do not establish liability under the Finance Act. The Tribunal found the appellants rendered arranging-transport services but did not issue consignment notes, and therefore the receipts fell within the negative list exclusion (s.66D(P)(i)(A)); accordingly the service was not taxable as GTA. Suppression with intent to evade tax was not established, so the extended period of limitation could not be invoked. Consequent demands of service tax, interest and penalty were set aside and the appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
