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...
Wilful evasion of tax payment requires material showing circumstances and conduct from which a deliberate attempt to avoid payment can be inferred. Although culpable mental state may be presumed, delayed payment within the stipulated period alone does not establish the offence. Where the original assessment was acknowledged as erroneous and later modified, the delay was explained by financial constraints, and payment was made after receipt of a show-cause notice, the material indicates delayed payment rather than a wilful attempt to evade tax. On those facts, prosecution was treated as futile and an abuse of process, and the complaint was quashed.
Wilful evasion of tax payment requires material showing circumstances and conduct from which a deliberate attempt to avoid payment can be inferred. Although culpable mental state may be presumed, delayed payment within the stipulated period alone does not establish the offence. Where the original assessment was acknowledged as erroneous and later modified, the delay was explained by financial constraints, and payment was made after receipt of a show-cause notice, the material indicates delayed payment rather than a wilful attempt to evade tax. On those facts, prosecution was treated as futile and an abuse of process, and the complaint was quashed.
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