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...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Revenue's remedy for an erroneous assessment order is revision rather than an objection in the assessee's appeal or appellate enhancement without the prescribed statutory process. The notes state that the revenue could not challenge matters not raised by the assessee through the appellate route and should have pursued revision of the second assessment order for alleged non-compliance with an earlier revision direction. Statutory Form 6R is described as valid proof of food-grain purchases from farmers unless specific doubts arise about its genuineness or reliability. In the absence of a legal requirement for further Mandi Samiti certification, lack of such certification could not justify disregarding the forms or sustaining the addition.
Revenue's remedy for an erroneous assessment order is revision rather than an objection in the assessee's appeal or appellate enhancement without the prescribed statutory process. The notes state that the revenue could not challenge matters not raised by the assessee through the appellate route and should have pursued revision of the second assessment order for alleged non-compliance with an earlier revision direction. Statutory Form 6R is described as valid proof of food-grain purchases from farmers unless specific doubts arise about its genuineness or reliability. In the absence of a legal requirement for further Mandi Samiti certification, lack of such certification could not justify disregarding the forms or sustaining the addition.
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