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 ...
HC considered a case u/s 50 of Black Money Act for non-disclosure of foreign assets and false statements by petitioners, office bearers of British Companies. Act enforced in 2015, but petitioners assessed in 2018. Prosecution u/s 50 & 52 initiated. Petitioners argued Companies closed pre-Act, so prosecution invalid. HC held prosecution unconstitutional u/s Article 20 as Act retroactively applied to pre-Act conduct. Special Act must comply with Article 20, fundamental right, and failed here, leading to dismissal of charges.
HC considered a case u/s 50 of Black Money Act for non-disclosure of foreign assets and false statements by petitioners, office bearers of British Companies. Act enforced in 2015, but petitioners assessed in 2018. Prosecution u/s 50 & 52 initiated. Petitioners argued Companies closed pre-Act, so prosecution invalid. HC held prosecution unconstitutional u/s Article 20 as Act retroactively applied to pre-Act conduct. Special Act must comply with Article 20, fundamental right, and failed here, leading to dismissal of charges.
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