Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Page of 4801
Press 'Enter' after typing page number.
1161 to 1180 of 96001 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The CESTAT allowed the appeal of M/s X against the impugned order, setting aside the service tax demand of Rs. 2,22,51,053/- on amounts wrongly treated as taxable advances, holding them to be refundable loans not linked to any taxable service. The Tribunal further held that the service tax demand of Rs. 16,44,878/- under RCM on imported services was unsustainable, being a revenue-neutral situation, and also barred by limitation as the extended period could not be invoked through a third SCN on the same issue. Consequently, interest and penalties under Sections 77 and 78 of the Finance Act, 1994 were quashed. However, late fee of Rs. 21,700/- for delayed ST-3 returns was upheld, subject to adjustment of Rs. 7,900/- already paid.
The CESTAT allowed the appeal of M/s X against the impugned order, setting aside the service tax demand of Rs. 2,22,51,053/- on amounts wrongly treated as taxable advances, holding them to be refundable loans not linked to any taxable service. The Tribunal further held that the service tax demand of Rs. 16,44,878/- under RCM on imported services was unsustainable, being a revenue-neutral situation, and also barred by limitation as the extended period could not be invoked through a third SCN on the same issue. Consequently, interest and penalties under Sections 77 and 78 of the Finance Act, 1994 were quashed. However, late fee of Rs. 21,700/- for delayed ST-3 returns was upheld, subject to adjustment of Rs. 7,900/- already paid.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
