Home Highlights August 2012 Year 2012 This

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1. Transfer fees and non occupancy charges - contribution towards the transfer fees and non occupancy charges are covered by the principle of mutuality and is not...

2. Taxability of Cash compensation received – capital receipt vs Revenue receipt - Capital receipt in principle is outside the scope of income chargeable to tax. .... - AT

3. Classification of services - non competition fee - activity of ‘entering into non-compete agreement is nothing but a service covered by ‘support service of business and commerce’

4. Taxability of Non-Compete fees – post amendment in Sec. 28 with the insertion of Clause (va) to section 28, the Non compete fee of Rs. 5 crores received by the assessee...

5. Taxability of club membership fee - refundable security deposit should not be subjected to Service Tax as per provisions of the Finance Act, 1994. - AAR

6. Taxability on allotment fees - Revenue brought it under the service tax to be rental receipt from immovable property - need to be tested by the officers at grass root level - AT

7. Merchant banker - taxability of various activities under the category of Business auxiliary services, Banking & Financial Services, Business support services - Held that...

8. Remission of deferred sales tax liability - deferred sales tax liability will not be chargeable to tax as business income of the assessee - AT

9. Denial of exemption from service tax - even subcontractor cannot be directed to pay service tax when the taxability of the construction is non commercial in nature being...

10. Non-compete fees - capital expenditure or revenue expenditure – warding off competition in business will constitute capital expenditure.... - HC