Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Service tax liability on sale of food items at cinema counters was in issue. The tribunal held that supply of food items in packed form or after mere reheating constitutes a sale with no discernible element of service, and therefore does not fall within the taxable service category for levy of service tax. Applying the same legal position to the present facts, the demand for recovery along with interest and consequential liability could not be sustained. Accordingly, the impugned order was set aside and the appeal was allowed. - CESTAT
Service tax liability on sale of food items at cinema counters was in issue. The tribunal held that supply of food items in packed form or after mere reheating constitutes a sale with no discernible element of service, and therefore does not fall within the taxable service category for levy of service tax. Applying the same legal position to the present facts, the demand for recovery along with interest and consequential liability could not be sustained. Accordingly, the impugned order was set aside and the appeal was allowed. - CESTAT
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