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 ...
AO suo-moto framed the order u/s. 154 and rectified the order - AO framed order u/s. 154 of the Act without affording a reasonable and adequate opportunity of being heard to the assessee, also without being directed by CIT(A) - The Tribunal dismissed the appeal of the Revenue, stating that the AO assumed powers conferred upon him by section 154 of the Act without affording any opportunity of being heard to the assessee. Therefore, the Tribunal upheld the CIT(A)'s decision.
AO suo-moto framed the order u/s. 154 and rectified the order - AO framed order u/s. 154 of the Act without affording a reasonable and adequate opportunity of being heard to the assessee, also without being directed by CIT(A) - The Tribunal dismissed the appeal of the Revenue, stating that the AO assumed powers conferred upon him by section 154 of the Act without affording any opportunity of being heard to the assessee. Therefore, the Tribunal upheld the CIT(A)'s decision.
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