Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Service tax could not be levied on notional interest attributed to a refundable security deposit, because taxable value under section 67 is limited to the consideration actually charged for the service. The Tribunal followed its earlier decision in the assessee's own case and held that a separately refundable deposit does not become taxable consideration merely by imputing a notional return on it. In the absence of any legal basis to include such notional interest in the value of service, the demand was unsustainable. The impugned order was set aside and the appeal was allowed.
Service tax could not be levied on notional interest attributed to a refundable security deposit, because taxable value under section 67 is limited to the consideration actually charged for the service. The Tribunal followed its earlier decision in the assessee's own case and held that a separately refundable deposit does not become taxable consideration merely by imputing a notional return on it. In the absence of any legal basis to include such notional interest in the value of service, the demand was unsustainable. The impugned order was set aside and the appeal was allowed.
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