Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Capital gains on transfer of TDR/FSI credit may not arise where the applicable law provides no ascertainable cost of acquisition and the computation mechanism therefore fails. The charging and computation provisions operate as an integrated code, consistent with the principle in CIT v. B.C. Srinivasa Setty. TDR/DRC granted under development regulations in lieu of compensation was treated as a statutory entitlement acquired without monetary expenditure, whose value remained indeterminate until utilisation. The pre-amendment deeming provision did not cover such rights, while the later inclusion of other intangible assets and rights applied only from A.Y. 2024-25 and could not retrospectively cure the gap. The land and TDR were distinct assets, so the land's value could not be treated as the TDR's cost. The reported additions for A.Y. 2016-17 were deleted.
Capital gains on transfer of TDR/FSI credit may not arise where the applicable law provides no ascertainable cost of acquisition and the computation mechanism therefore fails. The charging and computation provisions operate as an integrated code, consistent with the principle in CIT v. B.C. Srinivasa Setty. TDR/DRC granted under development regulations in lieu of compensation was treated as a statutory entitlement acquired without monetary expenditure, whose value remained indeterminate until utilisation. The pre-amendment deeming provision did not cover such rights, while the later inclusion of other intangible assets and rights applied only from A.Y. 2024-25 and could not retrospectively cure the gap. The land and TDR were distinct assets, so the land's value could not be treated as the TDR's cost. The reported additions for A.Y. 2016-17 were deleted.
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