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...
Non-declared gold ornaments carried as baggage may remain liable to confiscation, but confiscability is distinct from the discretion to permit redemption on payment of fine. The note states that this discretion depends on the nature of the breach, passenger conduct and surrounding circumstances, including whether the goods are finished personal ornaments and whether carriage indicates organised smuggling. It distinguishes cases involving commercial quantities of primary gold. It also identifies absence of prior involvement, organised activity or carriage for another person as factors supporting a proportionate reduction in penalty.
Non-declared gold ornaments carried as baggage may remain liable to confiscation, but confiscability is distinct from the discretion to permit redemption on payment of fine. The note states that this discretion depends on the nature of the breach, passenger conduct and surrounding circumstances, including whether the goods are finished personal ornaments and whether carriage indicates organised smuggling. It distinguishes cases involving commercial quantities of primary gold. It also identifies absence of prior involvement, organised activity or carriage for another person as factors supporting a proportionate reduction in penalty.
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