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...
The High Court addressed the issue of refund of service tax paid in relation to subscription of a chit fund. It was held that the petitioner paid the tax upon demand by tax authorities, not due to a mistake of law. The 2015 amendment to the Finance Act was deemed substantive, not clarificatory, with prospective effect. Refunds for taxes paid before the amendment were permissible within the extended one-year limitation period from the judgment date. The court dismissed the petition, noting the petitioner's failure to apply within the extended time limit set by the court.
The High Court addressed the issue of refund of service tax paid in relation to subscription of a chit fund. It was held that the petitioner paid the tax upon demand by tax authorities, not due to a mistake of law. The 2015 amendment to the Finance Act was deemed substantive, not clarificatory, with prospective effect. Refunds for taxes paid before the amendment were permissible within the extended one-year limitation period from the judgment date. The court dismissed the petition, noting the petitioner's failure to apply within the extended time limit set by the court.
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