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...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
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The High Court addressed the issue of rebate claim and the applicability of Standard Input Output Norms (SION) in determining wastage for rebate claims u/r 18 of the Rules, 2002. The department filed a revision application against rebate sanctioning. The Court held that previous recovery orders had attained finality as they were not challenged before higher authorities. The Court noted that the petitioner did not contest SION norms before the Appellate Authority, precluding them from raising the issue later. The Adjudicating Authority's incorrect calculation of SION norms was rectified by the Appellate Authority, with the Revisional Authority upholding the decision. The Court found no grounds to grant relief and dismissed the petition.
The High Court addressed the issue of rebate claim and the applicability of Standard Input Output Norms (SION) in determining wastage for rebate claims u/r 18 of the Rules, 2002. The department filed a revision application against rebate sanctioning. The Court held that previous recovery orders had attained finality as they were not challenged before higher authorities. The Court noted that the petitioner did not contest SION norms before the Appellate Authority, precluding them from raising the issue later. The Adjudicating Authority's incorrect calculation of SION norms was rectified by the Appellate Authority, with the Revisional Authority upholding the decision. The Court found no grounds to grant relief and dismissed the petition.
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