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 ...
Intra-firm stock transfers between premises of the same registered person, without distinct entities or consideration, do not constitute supply and do not create tax liability. Consequently, detention penalty under section 129, which is quantified by reference to tax payable on the goods, is not leviable where no tax is payable. Absence of an e-way bill alone does not establish that such movement is non-genuine where there is no allegation or material of fraud, wilful misstatement, suppression or non-genuineness. A document-related breach during movement otherwise than for supply may instead attract the specific penalty provision for e-way bill contraventions.
Intra-firm stock transfers between premises of the same registered person, without distinct entities or consideration, do not constitute supply and do not create tax liability. Consequently, detention penalty under section 129, which is quantified by reference to tax payable on the goods, is not leviable where no tax is payable. Absence of an e-way bill alone does not establish that such movement is non-genuine where there is no allegation or material of fraud, wilful misstatement, suppression or non-genuineness. A document-related breach during movement otherwise than for supply may instead attract the specific penalty provision for e-way bill contraventions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
