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 ...
Recovery proceedings - Attachment of assets of the 4th respondent - alienation/transfer as contrary to section 281 of IT Act - claim of ownership of the property - void sale agreement - The High Court hedl that, Tax Recovery officer is not required to declare the sale between the petitioner and the fourth respondent as invalid as the sale is void abinito. The petitioner has to institute a suit in a civil court to establish the right which he claims over the property in dispute. - Therefore, this writ petition is liable to be dismissed and it is accordingly dismissed.
Recovery proceedings - Attachment of assets of the 4th respondent - alienation/transfer as contrary to section 281 of IT Act - claim of ownership of the property - void sale agreement - The High Court hedl that, Tax Recovery officer is not required to declare the sale between the petitioner and the fourth respondent as invalid as the sale is void abinito. The petitioner has to institute a suit in a civil court to establish the right which he claims over the property in dispute. - Therefore, this writ petition is liable to be dismissed and it is accordingly dismissed.
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