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...
Under the new tax regime, the Tribunal treated a previously filed Form 10IE as continuing where the assessee had already exercised the option and had not withdrawn it. It noted that the claim under section 115BAC for A.Y. 2023-24 could not be rejected merely because no fresh Form 10IE was filed for that year. The return should not have been processed under the old regime on that basis, and the Assessing Officer was directed to allow taxation under the new regime on the strength of the form already available on record.
Under the new tax regime, the Tribunal treated a previously filed Form 10IE as continuing where the assessee had already exercised the option and had not withdrawn it. It noted that the claim under section 115BAC for A.Y. 2023-24 could not be rejected merely because no fresh Form 10IE was filed for that year. The return should not have been processed under the old regime on that basis, and the Assessing Officer was directed to allow taxation under the new regime on the strength of the form already available on record.
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