Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Grant-in-aid from CCRAS was treated as consideration because the payments were linked to approved proposals, deliverables, reporting, audits and specified research work, and the subsidy exclusion for Government grants did not extend by implication. The appellant and CCRAS were separate legal persons, so the research work constituted supply between distinct taxable persons in the course of business, and the appellant was not a pure agent. Exemption under Entries 3 and 3A was denied because the services were research and documentation for a central research body, not functions entrusted to Panchayat or Municipality bodies. The work was classified as taxable research and development services under Heading 9981, and the appeal was rejected.
Grant-in-aid from CCRAS was treated as consideration because the payments were linked to approved proposals, deliverables, reporting, audits and specified research work, and the subsidy exclusion for Government grants did not extend by implication. The appellant and CCRAS were separate legal persons, so the research work constituted supply between distinct taxable persons in the course of business, and the appellant was not a pure agent. Exemption under Entries 3 and 3A was denied because the services were research and documentation for a central research body, not functions entrusted to Panchayat or Municipality bodies. The work was classified as taxable research and development services under Heading 9981, and the appeal was rejected.
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