ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
CESTAT allowed the appeal and quashed the impugned order, holding that transfer of land development rights does not constitute a taxable "service" within the scope of Section 65B(44) of the Finance Act. The Tribunal found prior legal principles controlling and rejected the Revenue's factual distinction between parties as immaterial to the legal conclusion that rights to develop/construct and market, when constituting transfer of land development rights, fall outside service tax levy. Accordingly, the show-cause notice and demand were set aside as unsustainable, and relief was granted to the assessee.
CESTAT allowed the appeal and quashed the impugned order, holding that transfer of land development rights does not constitute a taxable "service" within the scope of Section 65B(44) of the Finance Act. The Tribunal found prior legal principles controlling and rejected the Revenue's factual distinction between parties as immaterial to the legal conclusion that rights to develop/construct and market, when constituting transfer of land development rights, fall outside service tax levy. Accordingly, the show-cause notice and demand were set aside as unsustainable, and relief was granted to the assessee.
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