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...
Section 3(b) contravention was sustained because the provision prohibits payment to, or for the credit of, a person resident outside India and does not require routing through a non-authorised person; however, the proprietrix's penalty on this count was reduced on the facts. Regulation 6(1) was held inapplicable to an individual resident proprietrix, so the penalty imposed under Section 10(6) read with Regulation 6(1) was deleted. Delayed settlement of import dues was treated as a contravention warranting penalty, but the quantum was substantially reduced for want of adequate pursuit in all respects. Separate penalties on the power of attorney holder were deleted because the attorney acted only as an agent and could not be treated as part of a body of individuals.
Section 3(b) contravention was sustained because the provision prohibits payment to, or for the credit of, a person resident outside India and does not require routing through a non-authorised person; however, the proprietrix's penalty on this count was reduced on the facts. Regulation 6(1) was held inapplicable to an individual resident proprietrix, so the penalty imposed under Section 10(6) read with Regulation 6(1) was deleted. Delayed settlement of import dues was treated as a contravention warranting penalty, but the quantum was substantially reduced for want of adequate pursuit in all respects. Separate penalties on the power of attorney holder were deleted because the attorney acted only as an agent and could not be treated as part of a body of individuals.
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