https://www.taxtmi.com/caselaws?id=751250 The CESTAT Hyderabad set aside the Commissioner's order determining taxable turnover for service tax liability. The appellant had not reached the stipulated milestone for crude oil/gas supply to ONGC and neither received nor was entitled to consideration during the disputed period. The tribunal held that the turnover determination violated proviso to Rule 3 of Point of Taxation Rules since the stipulated event for service completion was not achieved. The addition of notional profit at 10% was deemed improper. The best judgment assessment was found erroneous given proper record maintenance and regular return filing. The extended limitation period was unavailable to Revenue without meeting statutory conditions. Appeal allowed. en-us Mon, 08 Apr 2024 00:00:00 +0530 Thu, 11 Apr 2024 13:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751250 The CESTAT Hyderabad set aside the Commissioner's order determining taxable turnover for service tax liability. The appellant had not reached the stipulated milestone for crude oil/gas supply to ONGC and neither received nor was entitled to consideration during the disputed period. The tribunal held that the turnover determination violated proviso to Rule 3 of Point of Taxation Rules since the stipulated event for service completion was not achieved. The addition of notional profit at 10% was deemed improper. The best judgment assessment was found erroneous given proper record maintenance and regular return filing. The extended limitation period was unavailable to Revenue without meeting statutory conditions. Appeal allowed. Case-Laws Service Tax Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751250