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...
The case involved violations of natural justice, service tax Composition Scheme, and valuation issues. The tribunal held that free materials supplied by recipients should not be included in taxable value without investigation. Demand based solely on Form 26AS and returns was deemed impermissible. The extended limitation period was inapplicable as the appellant had a tax record. Pre-amendment Section 73 barred penalty due to non-invoke of extended period. The order was set aside and the appeal allowed.
The case involved violations of natural justice, service tax Composition Scheme, and valuation issues. The tribunal held that free materials supplied by recipients should not be included in taxable value without investigation. Demand based solely on Form 26AS and returns was deemed impermissible. The extended limitation period was inapplicable as the appellant had a tax record. Pre-amendment Section 73 barred penalty due to non-invoke of extended period. The order was set aside and the appeal allowed.
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