Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Performance of reciprocal obligations under a project development agreement in a common commercial joint venture was not a taxable service, because each co-venturer was discharging its own duties to achieve the venture's object rather than rendering an activity to another for consideration. The Tribunal held that the arrangement for revival of a sick sugar unit, including installation and operation of the power generation facility and supply of inputs for sugar operations, constituted mutual performance by co-venturers and not renting of immovable property or any other service. The service tax demands and penalty were therefore unsustainable and were set aside.
Performance of reciprocal obligations under a project development agreement in a common commercial joint venture was not a taxable service, because each co-venturer was discharging its own duties to achieve the venture's object rather than rendering an activity to another for consideration. The Tribunal held that the arrangement for revival of a sick sugar unit, including installation and operation of the power generation facility and supply of inputs for sugar operations, constituted mutual performance by co-venturers and not renting of immovable property or any other service. The service tax demands and penalty were therefore unsustainable and were set aside.
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