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...
Levy of Penalty u/s 73 - non willful mis-statement - discrepancies found on the returns - Validity of notice uploaded in the common portal and not communicated physically - The High court acknowledged the petitioner's assertion that they possess the necessary documents to refute the alleged discrepancies and are willing to submit them. - The court allowed the writ petition, setting aside the impugned order. The matter was remanded back to the respondent for fresh consideration. The petitioner was directed to appear before the respondent with the required documents on a specified date, and the respondent was instructed to reconsider the issue promptly.
Levy of Penalty u/s 73 - non willful mis-statement - discrepancies found on the returns - Validity of notice uploaded in the common portal and not communicated physically - The High court acknowledged the petitioner's assertion that they possess the necessary documents to refute the alleged discrepancies and are willing to submit them. - The court allowed the writ petition, setting aside the impugned order. The matter was remanded back to the respondent for fresh consideration. The petitioner was directed to appear before the respondent with the required documents on a specified date, and the respondent was instructed to reconsider the issue promptly.
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