Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Taxability under a Joint Development Agreement is examined where land is held as stock-in-trade, with focus on whether revenue accrues, whether an interest-free refundable security deposit constitutes consideration, and whether possession was transferred. The notes state that the capital-gains provision for specified development agreements involving capital assets does not apply to stock-in-trade. They also identify material factual questions requiring examination, including the termination notice and its effect, project status, the deposit's character and use, and the agreement's revenue-recognition terms. The matter described was remitted for fresh consideration after a remand report, objections, and reasonable opportunity, without a merits determination of taxability.
Taxability under a Joint Development Agreement is examined where land is held as stock-in-trade, with focus on whether revenue accrues, whether an interest-free refundable security deposit constitutes consideration, and whether possession was transferred. The notes state that the capital-gains provision for specified development agreements involving capital assets does not apply to stock-in-trade. They also identify material factual questions requiring examination, including the termination notice and its effect, project status, the deposit's character and use, and the agreement's revenue-recognition terms. The matter described was remitted for fresh consideration after a remand report, objections, and reasonable opportunity, without a merits determination of taxability.
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