"08 December 2011" Archive

Service Tax on Business Auxiliary Service

Business Auxiliary Service means any service in relation to, — (i) promotion or marketing or sale of goods produced or provided by or belonging to the client; or (ii) promotion or marketing of service provided by the client; or ...

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Service Tax on Broadcasting (Radio and Television) Services

Broadcasting (Radio and Television) Services means any service provided or to be provided to a client, by a broadcasting agency or organization in relation to broadcasting, in any manner and, in the case of broadcasting agency or organisation, having its head office situated in any place outside India, includes service provided by its bra...

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Service Tax on Brand Promotion Services

Brand Promotion Services - Taxable service means any service provided or to be provided to any person, by any other person, through a business entity or otherwise, under a contract for promotion or marketing of a brand of goods, service event or endorsement of name, including a trade name, logo or house mark of a business entity by appea...

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Company Law – Salient features of Early Warning System

The Ministry of Corporate Affairs introduced an Early Warning System” (EWS) in 2009 based on certain financial and non-financial indictors to ensure, as far as possible, that there is no recurrence of cases similar to Satyam Case. The criteria of EWS are used for online examination of Balance Sheets and other records of all listed comp...

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Posted Under: Service Tax |

Penalty u/s 271C not leviable when assessee misconstrued provisions

Additional Commissioner of Income Tax Vs. Rajai Nagar Co- Operative Bank Ltd. (Karnataka High Court)

In the instant case, the assessee is a Co-operative Bank. Clause 5 of sub-section (3) of Section 194A expressly exempts the Bank from deducting the tax at source on interest payable by the Bank to its members and other Co-operative Societies. As stated by the assessee, they did not properly construe this provision. By mis­construing this...

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Mother of 19 Children sentenced for for filing fraudulent Income Tax returns

A former Los Angeles resident drew an 18-month federal prison sentence Monday for filing fraudulent income tax returns involving 20 nonexistent children, all with the same birthday. Norma Coronel, 40, an illegal immigrant who now lives in Livermore, was ordered by U.S. District Judge Manuel Real to pay $302,186 in restitution to the Inter...

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Posted Under: Service Tax | ,

Service tax on Renting of Immovable Property Services

Renting of Immovable Property Services means any service provided or to be provided to any person, by any other person, by renting of immovable property or any other service in relation to such renting for use in the course of or, for furtherance of, business or commerce....

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Service tax on Health Services

Health Services means any service provided or to be provided by any hospital, nursing home or multi-specialty clinic,- (i) to an employee of any business entity, in relation to health check-up or preventive care, where the payment for such check-up or preventive care is made by such business entity directly to such hospital, nursing hom...

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Where assessee entered into agreement with its clients for development of software and agreed to give up all rights and claims of software to be developed, such contract was not for sale of any software but contract for service simplicitor

Sasken Communication Technologies Ltd. Vs Joint Commissioner of Commercial Taxes (Appeals) (Karnataka High Court)

Section 65(53a) of the Finance Act, 1994, read with section 4 of the Karnataka VAT Act, 2003 - Information Technology Service - April, 2009 to March, 2010 - Assessee entered into agreements with its clients for development of software - Asses see provided its staff who were well-trained in field and who would develop software according to...

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There is no restrictions under rule 7 of Cenvat Credit Rules in limiting distribution of service tax credit made in respect of one unit solely on ground that services are used in respect of another unit

Commissioner of Central Excise Vs Ecof Industries (P.) Ltd. (Karnataka High Court)

Rule 7 of the Cenvat Credit Rules, 2004 - Cenvat credit - Distribution of credit on inputs by office or any other premises of output service provider - Assessee paid service tax pertaining to advertisement of its product manufactured in a unit - It availed Cenvat credit of service tax so paid in another unit - Revenue denied said credit o...

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