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...
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The High Court addressed the issue of rectification of an order by the CESTAT, which rejected an application filed u/s 35C (2) of the Central Excise Act, 1944. The key question was whether the discount received by a bank from automobile dealers could be considered as a consideration for service. The Court held that a previous decision by the CESTAT was rendered per incuriam as it did not consider earlier decisions of equal strength. The Court noted the lack of specific references to contradictory decisions in the impugned order. Consequently, the Court quashed the order and remanded the matter to the Tribunal for fresh consideration.
The High Court addressed the issue of rectification of an order by the CESTAT, which rejected an application filed u/s 35C (2) of the Central Excise Act, 1944. The key question was whether the discount received by a bank from automobile dealers could be considered as a consideration for service. The Court held that a previous decision by the CESTAT was rendered per incuriam as it did not consider earlier decisions of equal strength. The Court noted the lack of specific references to contradictory decisions in the impugned order. Consequently, the Court quashed the order and remanded the matter to the Tribunal for fresh consideration.
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