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...
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Erroneous classification of interest as tax in Form GST DRC-07 can improperly trigger the statutory pre-deposit required for a further GST appeal. The notes state that the demand for wrong availment and delayed reversal of input tax credit comprised ITC reversal, interest and penalty, with no disputed tax component; however, interest was recorded as tax and affirmed in appeal. Although the original order was later rectified, limitation prevented correction of the appellate order. The appellate order was set aside and remitted for fresh merits adjudication because a Tribunal appeal would otherwise require pre-deposit on interest wrongly treated as tax.
Erroneous classification of interest as tax in Form GST DRC-07 can improperly trigger the statutory pre-deposit required for a further GST appeal. The notes state that the demand for wrong availment and delayed reversal of input tax credit comprised ITC reversal, interest and penalty, with no disputed tax component; however, interest was recorded as tax and affirmed in appeal. Although the original order was later rectified, limitation prevented correction of the appellate order. The appellate order was set aside and remitted for fresh merits adjudication because a Tribunal appeal would otherwise require pre-deposit on interest wrongly treated as tax.
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