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...
Prayer for a direction extending the validity period of Duty Credit Certificate by a period of 15 years - permit use of the Duty Credit Certificate to defray I.G.S.T and G.S.T Compensation Cess - The High Court held that, the notifications and handbook provisions were within the legal authority and did not violate the petitioner's constitutional rights. - The court acknowledged the petitioner's entitlement under the TPS but noted the procedural and legal complexities that affected the utilization of duty credits. It highlighted that the entitlements were subject to the conditions and limitations set forth in the relevant notifications and handbook provisions. - Thus, the Court cannot come to the aid of the petitioner by granting the relief of extending time by 15 years as the same is not based on any concomitant right.
Prayer for a direction extending the validity period of Duty Credit Certificate by a period of 15 years - permit use of the Duty Credit Certificate to defray I.G.S.T and G.S.T Compensation Cess - The High Court held that, the notifications and handbook provisions were within the legal authority and did not violate the petitioner's constitutional rights. - The court acknowledged the petitioner's entitlement under the TPS but noted the procedural and legal complexities that affected the utilization of duty credits. It highlighted that the entitlements were subject to the conditions and limitations set forth in the relevant notifications and handbook provisions. - Thus, the Court cannot come to the aid of the petitioner by granting the relief of extending time by 15 years as the same is not based on any concomitant right.
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