The issue was whether software purchased under high sea sales attracts service tax. The Tribunal held that such transactions qualify as import of service and are taxable.
The Tribunal ruled that interest earned from mandatory bank deposits by a co-operative credit society qualifies as business income and is eligible for deduction under Section 80P.
The issue was whether telecom interconnect charges qualify as royalty. The Supreme Court upheld the High Court view that such payments are not taxable as royalty.
The issue was whether telecom interconnect charges qualify as royalty. The Court held they do not, relying on earlier precedent and dismissed the Revenue’s appeal.
The Tribunal held that even a marginal increase in ITC must be passed on to buyers. Failure resulted in refund liability with interest under Section 171. The ruling confirms that interest is payable from the date of excess collection. Arguments to defer interest to project completion were rejected.
The case confirms that an increase in ITC must result in price reduction for buyers. The Tribunal found profiteering where such benefit was not passed on, directing refund with interest.
The Court held that cancellation for non-filing of returns may be reconsidered if pending returns and dues are cleared. It directed authorities to evaluate restoration upon compliance with Rule 22.
The Court held that cancellation due to non-filing of returns can be reconsidered if the taxpayer complies with Rule 22 requirements. It directed authorities to examine restoration upon payment of dues.
The Court upheld rejection of condonation where delay exceeded 365 days under CBDT Circular. It clarified that Commissioners lack authority beyond this limit but relief may be sought from CBDT.
ITAT held that delay in submitting Form 10B is procedural and can be condoned. It directed reconsideration of exemption where the audit report was filed during appellate proceedings.
