Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Levy of service tax/IGST on ocean freight under CIF contracts is not sustainable where the transporter is located outside the taxable territory; reverse charge cannot be imposed on an importer who is neither the service provider nor the service recipient, so notifications attempting to make importers liable under reverse charge exceed legislative and rule making powers. The composite supply principle bars a separate tax on the transport service component of a composite import transaction. Any demand issued under the impugned notifications is without authority; petitioner may seek refunds subject to statutory procedure and the doctrine of unjust enrichment.
Levy of service tax/IGST on ocean freight under CIF contracts is not sustainable where the transporter is located outside the taxable territory; reverse charge cannot be imposed on an importer who is neither the service provider nor the service recipient, so notifications attempting to make importers liable under reverse charge exceed legislative and rule making powers. The composite supply principle bars a separate tax on the transport service component of a composite import transaction. Any demand issued under the impugned notifications is without authority; petitioner may seek refunds subject to statutory procedure and the doctrine of unjust enrichment.
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