Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Characterisation of mesne profits was contested as revenue or capital; tribunal found mesne profits constituted compensation for benefit unjustly retained by a tenant who overstayed on a monthtomonth tenancy, not damages to the capital asset, and therefore are revenue receipts. Reliance on certain earlier tribunal decisions was rejected and a binding highercourt precedent favouring revenue characterisation was applied. Consequence: the mesne profits are taxable as revenue and the taxpayer's appeal against the assessment was dismissed.
Characterisation of mesne profits was contested as revenue or capital; tribunal found mesne profits constituted compensation for benefit unjustly retained by a tenant who overstayed on a monthtomonth tenancy, not damages to the capital asset, and therefore are revenue receipts. Reliance on certain earlier tribunal decisions was rejected and a binding highercourt precedent favouring revenue characterisation was applied. Consequence: the mesne profits are taxable as revenue and the taxpayer's appeal against the assessment was dismissed.
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