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 ...
Validity of assessment order - reply to the ASTM-10 notice was not taken into consideration - violation of principles of natural justice - Acknowledging the importance of providing the petitioner with an opportunity to contest the tax demand on merits, the High Court decides to set aside the impugned order. However, this is conditional on the petitioner remitting 10% of the disputed tax demand within two weeks and submitting a reply to the show cause notice within the same period.
Validity of assessment order - reply to the ASTM-10 notice was not taken into consideration - violation of principles of natural justice - Acknowledging the importance of providing the petitioner with an opportunity to contest the tax demand on merits, the High Court decides to set aside the impugned order. However, this is conditional on the petitioner remitting 10% of the disputed tax demand within two weeks and submitting a reply to the show cause notice within the same period.
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