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 ...
Finalization of the provisional assessment - The High Court emphasized the need for expeditious conclusion of internal processes, particularly when all required documents were submitted by the petitioners. The failure to issue specific communications to the petitioners regarding any further requirements or compliances, coupled with the decision not to finalize the bills of entries, amounted to arbitrariness and abdication of duties by the concerned officers. In light of the above, the High Court directed the respondent to finalize the bills of entries within four weeks from the date of the judgment.
Finalization of the provisional assessment - The High Court emphasized the need for expeditious conclusion of internal processes, particularly when all required documents were submitted by the petitioners. The failure to issue specific communications to the petitioners regarding any further requirements or compliances, coupled with the decision not to finalize the bills of entries, amounted to arbitrariness and abdication of duties by the concerned officers. In light of the above, the High Court directed the respondent to finalize the bills of entries within four weeks from the date of the judgment.
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