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...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Provisional attachment of a bank account under Section 83 requires the competent authority to form a prior opinion before invoking the power. The cited Supreme Court authority treats the provision as draconian and insists on strict compliance with the statutory preconditions to prevent arbitrary interference with business activity. An attachment order that merely states it is issued to protect revenue, without recording the mandated opinion, is mechanically made and legally unsustainable; the bank account must be de-frozen.
Provisional attachment of a bank account under Section 83 requires the competent authority to form a prior opinion before invoking the power. The cited Supreme Court authority treats the provision as draconian and insists on strict compliance with the statutory preconditions to prevent arbitrary interference with business activity. An attachment order that merely states it is issued to protect revenue, without recording the mandated opinion, is mechanically made and legally unsustainable; the bank account must be de-frozen.
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