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 ...
For capital goods warehoused for manufacture or other operations, the requirement that goods be "intended for use" does not require actual installation or use in the warehouse. The notes distinguish intended use from actual use and state that, where imported goods were undisputedly intended for manufacturing operations, their later clearance for home consumption without use did not by itself attract interest on deferred customs duty. On that basis, the interest demand was treated as unsustainable, the challenged order was set aside, and consequential relief followed.
For capital goods warehoused for manufacture or other operations, the requirement that goods be "intended for use" does not require actual installation or use in the warehouse. The notes distinguish intended use from actual use and state that, where imported goods were undisputedly intended for manufacturing operations, their later clearance for home consumption without use did not by itself attract interest on deferred customs duty. On that basis, the interest demand was treated as unsustainable, the challenged order was set aside, and consequential relief followed.
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