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...
GST liability, including interest on delayed payment, must be determined strictly under the statute, and interest arises by operation of law where the fiscal enactment so provides. In the absence of statutory power, authorities cannot waive or reduce interest, or permit filing or amendment of returns in a manner not contemplated by the GST scheme; blanket directions on penalty and limitation are likewise unsustainable. The note also distinguishes contractual reimbursement of incremental GST from statutory tax liability: any claim for reimbursement is an inter se matter between contracting parties and cannot alter the GST regime or bind tax authorities.
GST liability, including interest on delayed payment, must be determined strictly under the statute, and interest arises by operation of law where the fiscal enactment so provides. In the absence of statutory power, authorities cannot waive or reduce interest, or permit filing or amendment of returns in a manner not contemplated by the GST scheme; blanket directions on penalty and limitation are likewise unsustainable. The note also distinguishes contractual reimbursement of incremental GST from statutory tax liability: any claim for reimbursement is an inter se matter between contracting parties and cannot alter the GST regime or bind tax authorities.
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