No TP adjustment for ‘performance guarantee’ as contractual revenue would belong to guarantor if guarantee was invoked

Case Details: DCIT v. KEC … Continue reading “No TP adjustment for ‘performance guarantee’ as contractual revenue would belong to guarantor if guarantee was invoked”

Tax Dept. conducts search and seizure operation in Gujarat; unaccounted income of more than Rs. 100 crore unearthed

Press Release, dated 21-11-2021 The … Continue reading “Tax Dept. conducts search and seizure operation in Gujarat; unaccounted income of more than Rs. 100 crore unearthed”

Managerial and leadership services provided by Corporate Office to its group companies is considered as supply of services: AAR

Case Details: Authority for Advance … Continue reading “Managerial and leadership services provided by Corporate Office to its group companies is considered as supply of services: AAR”

Nexus between input services & exported services not required to be established for refund of Cenvat Credit: CESTAT

Case Details: Cross Tab Marketing … Continue reading “Nexus between input services & exported services not required to be established for refund of Cenvat Credit: CESTAT”

Selling flats at amount lesser than stamp duty justified as flats had no parking space & electricity connection: ITAT

Case Details: Peerless General Finance … Continue reading “Selling flats at amount lesser than stamp duty justified as flats had no parking space & electricity connection: ITAT”

SAT reduces penalty from Rs. 30 lakhs to Rs. 3 lakhs as non-disclosure by the appellant didn’t cause any loss to investors

Case Details: Aanchal Jindal v. … Continue reading “SAT reduces penalty from Rs. 30 lakhs to Rs. 3 lakhs as non-disclosure by the appellant didn’t cause any loss to investors”

Demanding ST again on Ocean freight already included in value of goods imported amounts to double taxation: CESTAT

Case Details: Chryso India (P.) … Continue reading “Demanding ST again on Ocean freight already included in value of goods imported amounts to double taxation: CESTAT”