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...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
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Delay in filing the appeal against the intimation under section 143(1) was condoned because the assessee had pursued rectification and a reminder, and the time taken in that process was treated as beyond its control. Applying the principle of sufficient cause, the Tribunal held that limitation provisions should be construed liberally to advance substantial justice where there is no negligence, inaction or lack of bona fides. The order dismissing the appeal on limitation was set aside and the matter was restored for decision on merits. The connected appeal against the rectification order was dismissed as infructuous after restoration of the main appeal.
Delay in filing the appeal against the intimation under section 143(1) was condoned because the assessee had pursued rectification and a reminder, and the time taken in that process was treated as beyond its control. Applying the principle of sufficient cause, the Tribunal held that limitation provisions should be construed liberally to advance substantial justice where there is no negligence, inaction or lack of bona fides. The order dismissing the appeal on limitation was set aside and the matter was restored for decision on merits. The connected appeal against the rectification order was dismissed as infructuous after restoration of the main appeal.
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