What would be the rate of Service tax where the service is provided by the Chartered Accountants prior to 01.04.2012 and the invoice is also issued prior to 01.04.2012 but the payment is received after 01.04.2012.
We are of the considered opinion that the Finance Act, 2000 has made the complete procedure in its section 117. Section 117 of the Finance Act, 2000 reads as under: 117. Validation of certain action taken under Service Tax Rules. – Notwithstanding anything contained in any judgment, decree or order of any court, Tribunal or other authority, sub-clauses (xii) and (xvii) of clause (d) of sub-rule (1) of rule 2 of the Service Tax Rules, 1994 as they stood immediately before the commencement of the Service Tax (Amendment) Rules, 1998 shall be deemed to be valid and to have always been valid as if the said sub-clauses had been in force at all material times and accordingly,-
Since the company’s counterclaim is by way of an unliquidated sum in damages, and the company has no defence to the petitioner’s claim herein, the company is permitted to furnish security to the extent of the petitioner’s claim of Rs.1,41,38,347/- within a fortnight from date whereupon this petition will remain permanently stayed. The company says that it has instituted winding-up proceedings in respect of its claim against the petitioner under the agreement of April 7, 2010.
In this appeal it is noticed that the Assessee has in fact after interim order granted by this Court has approached the Revenue and there are certain proposals given by the Revenue to the Assessee and it is submitted by Sri Naganand, learned Senior Counsel that initially the Assessee has deposited Rs.50 crores and as per the order of the Tribunal and further a sum of Rs.175 crores has been deposited after the order passed by this court and a sum of Rs.25 crores will be deposited by 10.02.2013 and modification of interim order to such extent should take care of the interest of both the Assessee and Revenue etc.
Whether the material obtained during search showing a variation in expenditure may be considered as evidence for disallowance of expenditure for a block period u/s 158BB of the Act and would not amount to assessment on estimation basis?
Seconded personal continue to be the employees on the roll of the member oil companies even during the period of secondment. These seconded employees continue to receive their salaries and emoluments from the member oil company of which they are employees. Therefore, not being employees of the respondent-assessee, the overseas allowances cannot be subject to deduction of tax at source.
There is no doubt that the authority concerned, who issues the warrant for searches and seizure, ought to have the necessary materials before him to have a reason to believe that an order for search and seizure is warranted. However, it is clear that if certain materials are available before the authority concerned to arrive at his conclusion, then it is not for this Court to examine as to whether there were sufficient materials or grounds to arrive at such a conclusion.
Before resolving the disputed questions as to whether the offer can be treated as public issue or not, and as to whether the right of renunciation was offered only under the mandate of section 81(3), etc.; the question regarding jurisdiction of the first respondent need be looked into. It is evident that the second respondent had once initiated action under exhibit P3 and such action was subsequently dropped.
In the present case, we find that the whole issue is with regard to the method of production and the manner in which electricity is generated. The entire process of generation of electricity, both by the gas turbine unit and the steam turbine unit, has been explained by the petitioner in great detail in the assessment proceedings for the assessment year 1998-99 which has been taken notice of by the Assessing Officer.
As regards the challenge to the reopening of proceedings is concerned, the Court is satisfied that the notice under Section 147 reflected due application of mind to objective material furnished to the AO, i.e. by way of Investigation Report which could have given rise to a bonafide belief, legitimately falling within Section 147.
