The Supreme Court examined whether fees paid to foreign speakers through booking agents attract service tax as event management service. It held that speaker booking does not amount to planning, organizing, or managing an event and is therefore not taxable under that category.
Courts have ruled that transfer of leasehold rights is not a supply of services. The key takeaway is that such transactions fall outside GST.
Section 74 applies only where fraud or intent to evade tax is established. Vague notices based on mismatches lack jurisdiction and are unsustainable.
The Tribunal ruled that trusts engaged mainly in education, medical aid, and public welfare remain eligible for 80G. Minor worship-related elements do not alter charitable character.
Regulators have introduced a closing auction-based price discovery mechanism for equities with derivatives. The move enhances transparency and ensures a fair closing price used for settlements and index calculations.
The Tribunal examined cash deposits made during the demonetisation period and accepted explanations relating to past savings and business collections. Only the agricultural income claim was remanded for limited verification.
The Tribunal examined whether professional fees claimed were actually incurred and for business purposes. It held that absence of evidence like bank payment, TDS, and service details justified disallowance.
The Assessing Officer alleged incorrect claim of stamp duty expenditure without identifying any such entry in the accounts. The Tribunal deleted the addition, holding it to be based on presumption.
The ITAT restored an ex-parte assessment where LTCG was added mechanically without hearing the taxpayer. The ruling reinforces that denial of natural justice vitiates capital gains assessments.
The Court ruled that Section 17A lawfully requires prior approval before investigating decisions taken in official capacity. It clarified that the provision balances anti-corruption enforcement with protection against vexatious probes.
