Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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CESTAT partially allowed the appeal. It held that VOSTRO-related commissions constituted export of services where payment was received in convertible foreign exchange and recipients lacked an Indian business establishment; demands for service tax on VOSTRO transactions for 01.04.2012-30.06.2012 and for the post-negative list period (through 31.03.2013) were set aside. Conversely, charges paid to SWIFT were held to be import of services falling within "banking and other financial services," and the service-tax demand in respect of SWIFT charges was sustained. Penalties relating to SWIFT were remitted under Section 80 of the Finance Act, 1994, on the ground of reasonable cause.
CESTAT partially allowed the appeal. It held that VOSTRO-related commissions constituted export of services where payment was received in convertible foreign exchange and recipients lacked an Indian business establishment; demands for service tax on VOSTRO transactions for 01.04.2012-30.06.2012 and for the post-negative list period (through 31.03.2013) were set aside. Conversely, charges paid to SWIFT were held to be import of services falling within "banking and other financial services," and the service-tax demand in respect of SWIFT charges was sustained. Penalties relating to SWIFT were remitted under Section 80 of the Finance Act, 1994, on the ground of reasonable cause.
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