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...
Extended period of limitation could not be invoked on mere non-disclosure in returns; absent a positive act showing fraud, wilful misstatement or deliberate suppression, the demands on sub-lease rent and the related CENVAT credit were held time-barred and the penalties fell with them. Reimbursement of actual electricity charges based on units consumed was not consideration for the renting service and the tax demand on that component was set aside on merits. For CENVAT credit, the governing test was real and sufficient nexus with the output service, while services primarily for personal use or employee welfare were ineligible; the notice-vagueness challenge failed for want of demonstrated prejudice, and the quantified demand was left for verification before recovery.
Extended period of limitation could not be invoked on mere non-disclosure in returns; absent a positive act showing fraud, wilful misstatement or deliberate suppression, the demands on sub-lease rent and the related CENVAT credit were held time-barred and the penalties fell with them. Reimbursement of actual electricity charges based on units consumed was not consideration for the renting service and the tax demand on that component was set aside on merits. For CENVAT credit, the governing test was real and sufficient nexus with the output service, while services primarily for personal use or employee welfare were ineligible; the notice-vagueness challenge failed for want of demonstrated prejudice, and the quantified demand was left for verification before recovery.
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