Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
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Whether fees paid to speakers via booking agents constitute "event management service": held that taxability depends on whether the contract falls within the statutory definitions of "event management"/"event manager"; a mere booking of speakers does not involve planning, promoting or organizing the event and thus does not qualify - outcome: levy cannot be sustained. Reasoning: strict interpretation of the charging provision; statutory definitions; Circular dated 8.8.2002 and common-parlance test confirm that individual speaker-booking contracts are not event-management contracts - outcome: impugned demand set aside and appeal allowed. - SC
Whether fees paid to speakers via booking agents constitute "event management service": held that taxability depends on whether the contract falls within the statutory definitions of "event management"/"event manager"; a mere booking of speakers does not involve planning, promoting or organizing the event and thus does not qualify - outcome: levy cannot be sustained. Reasoning: strict interpretation of the charging provision; statutory definitions; Circular dated 8.8.2002 and common-parlance test confirm that individual speaker-booking contracts are not event-management contracts - outcome: impugned demand set aside and appeal allowed. - SC
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