Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Demand and penalty for alleged receipt of invoices without actual movement of goods required proof of genuine physical supply, not mere assumptions. Where the taxpayer produced tax invoices along with e-way bills and lorry receipts, the text states that this created a prima facie case and that the authority should have verified the transport records before confirming liability. The demand could not rest on presumptions, conjecture, or ipse dixit; fresh verification of lorry numbers, e-way bills, invoices, and toll passage was required. The impugned order was set aside and the matter remitted for a fresh decision on merits after such verification.
Demand and penalty for alleged receipt of invoices without actual movement of goods required proof of genuine physical supply, not mere assumptions. Where the taxpayer produced tax invoices along with e-way bills and lorry receipts, the text states that this created a prima facie case and that the authority should have verified the transport records before confirming liability. The demand could not rest on presumptions, conjecture, or ipse dixit; fresh verification of lorry numbers, e-way bills, invoices, and toll passage was required. The impugned order was set aside and the matter remitted for a fresh decision on merits after such verification.
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