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 ...
Demand of late fee u/s 47(1) of the CGST / SGST Act - delay in filing of returns - Amnesty Scheme - GST portal does not support payment of late fee for late filing GSTR-9C - The High court ruled that late fees are leviable up to the late filing of the GSTR-9 return and not the GSTR-9C reconciliation statement. - The court noted the introduction of an amnesty scheme by the Central Government, which waived late fees in excess of Rs. 10,000 for non-filers of returns for certain financial years. The petitioner had filed their annual return before the commencement of this scheme, and thus argued for the benefit of the notifications. The court agreed with this contention and found the notices for non-payment of late fees unjust and unsustainable.
Demand of late fee u/s 47(1) of the CGST / SGST Act - delay in filing of returns - Amnesty Scheme - GST portal does not support payment of late fee for late filing GSTR-9C - The High court ruled that late fees are leviable up to the late filing of the GSTR-9 return and not the GSTR-9C reconciliation statement. - The court noted the introduction of an amnesty scheme by the Central Government, which waived late fees in excess of Rs. 10,000 for non-filers of returns for certain financial years. The petitioner had filed their annual return before the commencement of this scheme, and thus argued for the benefit of the notifications. The court agreed with this contention and found the notices for non-payment of late fees unjust and unsustainable.
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