Prima facie, the institute was facilitating campus recruitment of its students by various companies from year to year and collecting charges/fees from such companies as a consideration for the same. Prima facie, this transaction squarely fell within the ambit of the definition of “Manpower Recruitment or Supply Agency’ as amended w.e.f. 1-5-2006. The circular relied on by the learned counsel is of no relevance inasmuch as the question discussed therein was whether an activity which would fall within the scope of the above definition w.e.f. 1-5-2006 could also be held taxable prior to that date. The decision cited by the learned counsel is also prima facie inapplicable inasmuch as that was a decision touching the scope of “Manpower Recruitment [or Supply] Agency Service” prior to 1-5-2006.
The benefit of Cenvat credit paid on outdoor catering services received by the appellants for providing food to their employees as also service tax paid on running a cab service for transportation of employees from home to factory and back to home stands denied on the ground that the said services cannot be held to be eligible cenvatable input services.
(i) after serial number 9 and the entries relating thereto, the following serial number and the entries shall be inserted, (ii) against serial number 12, in column (4), for the entry 10%, the entry Nil shall be substituted; (iii) after serial number 24 and the entries relating thereto, the following serial number and the entries shall be inserted
The principal notification No.146/1994-Customs, dated the 13th July, 1994 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. 575(E), dated the 13th July, 1994 and last amended
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with sub-section (1) of section 3 of the Customs Tariff Act,1975 (51 of 1975), the Central Government, being satisfied that it is necessary in
(40) Conveyor system including conveyors for heat setting, cold setting, drying and reactivating and sterilizing of footwear with or without vacuum
Observations of the assessing officer to the effect that no one makes a loss in real estate business and that the market perceptions indicate that the prices of the immoveable properties are always on the upward trend. These observations have, inter alia, formed the basis of the additions made by the assessing officer. It was even suggested before us on behalf of the revenue that it is a “notorious practice” prevailing in real estate circles that in all property transactions there is non-disclosure of the full consideration. As pointed out earlier, this cannot per se constitute the basis of the addition, though we must hasten to add that it can very well be a starting point for further investigation. In Lalchand Bhagat Ambica Ram v. CIT [1959] 37 ITR 288, the Supreme Court disapproved the practice of making additions in the assessment on mere suspicion and surmises or by taking note of the “notorious practice” prevailing in trade circles.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the
If income arises out of the transfer of a long term capital asset being an equity share in a listed company, the said income would be exempt under section 10(38) of the said Act. There is no doubt that the shares of Goodyear India Limited are listed shares and therefore even if a consideration had been charged for the transfer of the 74% share, the income arising therefrom would be exempt by virtue of the provisions of section 10(38) of the said Act.
