Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
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CRS/GDS incentives paid to air travel agents were held not taxable as Business Auxiliary Service because the agents promoted their own business, not the CRS/GDS companies or airlines. Fuel surcharge was excluded from basic fare under Rule 6(7), and the Revenue could not revalue the transaction under section 67 once that tax basis was chosen. Abatement was allowed where common CENVAT credit had been proportionately reversed, and adjustment of excess service tax was permitted despite procedural lapse. CENVAT credit on gateway charges was allowed, reverse charge demands on services performed outside India were rejected, and the extended period was barred because the material facts had been disclosed.
CRS/GDS incentives paid to air travel agents were held not taxable as Business Auxiliary Service because the agents promoted their own business, not the CRS/GDS companies or airlines. Fuel surcharge was excluded from basic fare under Rule 6(7), and the Revenue could not revalue the transaction under section 67 once that tax basis was chosen. Abatement was allowed where common CENVAT credit had been proportionately reversed, and adjustment of excess service tax was permitted despite procedural lapse. CENVAT credit on gateway charges was allowed, reverse charge demands on services performed outside India were rejected, and the extended period was barred because the material facts had been disclosed.
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