Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
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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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