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 ...
Levy of penalty - appellant as the Customs Broker was vicariously responsible for the actions of his employees or not - export consignment was highly overvalued - The Tribunal noted that the appellant was not involved in filing the incorrect shipping bills and had no knowledge of them. Consequently, the penalties imposed under Sections 114 and 117 of the Customs Act were deemed unjustifiable.
Levy of penalty - appellant as the Customs Broker was vicariously responsible for the actions of his employees or not - export consignment was highly overvalued - The Tribunal noted that the appellant was not involved in filing the incorrect shipping bills and had no knowledge of them. Consequently, the penalties imposed under Sections 114 and 117 of the Customs Act were deemed unjustifiable.
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