Revenue in the Driver's Seat: CBEC'S Action Plan on the Fiat India Judgment Tax Trove

Abstract

There are a lot of grey areas on which sufficient light will be required to be shone. The CBEC Circular has a silver lining in the bleak skies when it undertakes to find out whether loss making sales are in line with accepted business practices. The judgment has caused disappointment and concern in industry and business. Undertakings belonging to the central and state governments cannot remain immune.