Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
CESTAT allowed the appeal and set aside the impugned orders. The Tribunal held that Revenue improperly clubbed co-owners' rental receipts with those of the appellant without issuing notice to the co-owners, rendering the proceedings vitiated for lack of joinder. Further, demands for service tax on "renting of immovable property" for October 2007-March 2008 and April 2008-March 2013 were barred by limitation insofar as they involved bona fide interpretational issues, and could not sustain extended limitation. Consequently the levy of duty, interest and penalties as upheld below was held untenable and quashed, and the recovery demands declared unsustainable.
CESTAT allowed the appeal and set aside the impugned orders. The Tribunal held that Revenue improperly clubbed co-owners' rental receipts with those of the appellant without issuing notice to the co-owners, rendering the proceedings vitiated for lack of joinder. Further, demands for service tax on "renting of immovable property" for October 2007-March 2008 and April 2008-March 2013 were barred by limitation insofar as they involved bona fide interpretational issues, and could not sustain extended limitation. Consequently the levy of duty, interest and penalties as upheld below was held untenable and quashed, and the recovery demands declared unsustainable.
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TaxTMI 
TaxTMI 
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