Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Actual and continuous agricultural operations are not a mandatory statutory condition under section 2(14)(iii) where land is agricultural in character and lies beyond prescribed municipal limits. The ITAT noted that this provision follows an objective test based on municipal limits, population and urban proximity, unlike sections 54B and 10(37), and that actual cultivation is only an evidentiary factor, not the sole or independent test. On the facts, the land remained agricultural in records, was outside municipal limits and a no-development zone, and the capital gains addition was deleted.
Actual and continuous agricultural operations are not a mandatory statutory condition under section 2(14)(iii) where land is agricultural in character and lies beyond prescribed municipal limits. The ITAT noted that this provision follows an objective test based on municipal limits, population and urban proximity, unlike sections 54B and 10(37), and that actual cultivation is only an evidentiary factor, not the sole or independent test. On the facts, the land remained agricultural in records, was outside municipal limits and a no-development zone, and the capital gains addition was deleted.
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