https://www.taxtmi.com/caselaws?id=241307 The Tribunal ruled in favor of the appellant, a banking and financial services entity, in a case concerning tax liability on profit transfers between branches and the applicability of service tax on profits from foreign exchange (FOREX) transactions. The Tribunal held that the profit transfer was related to FOREX transactions and exempt from service tax, granting a waiver of predeposit and staying recovery during the appeal process. Additionally, the Tribunal dismissed the invocation of an extended period of limitation based on alleged suppression of facts, finding in favor of the appellant due to the lack of evidence of tax payment by the Kolkata Branch. en-us Tue, 28 May 2013 00:00:00 +0530 Fri, 20 Dec 2013 05:49:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241307 The Tribunal ruled in favor of the appellant, a banking and financial services entity, in a case concerning tax liability on profit transfers between branches and the applicability of service tax on profits from foreign exchange (FOREX) transactions. The Tribunal held that the profit transfer was related to FOREX transactions and exempt from service tax, granting a waiver of predeposit and staying recovery during the appeal process. Additionally, the Tribunal dismissed the invocation of an extended period of limitation based on alleged suppression of facts, finding in favor of the appellant due to the lack of evidence of tax payment by the Kolkata Branch. Case-Laws Service Tax Tue, 28 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241307