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 ...
The High Court reviewed an assessment order challenged for being unreasoned. The Court found that the order lacked proper reasoning as it confirmed the tax proposal without explanation, rendering it unsustainable. The order was set aside, and the case remanded for reconsideration. The respondent was instructed to grant the taxpayer a fair opportunity, including a personal hearing, and issue a new order within three months. Consequently, the bank attachment linked to the assessment order was lifted. The petition was disposed of through remand.
The High Court reviewed an assessment order challenged for being unreasoned. The Court found that the order lacked proper reasoning as it confirmed the tax proposal without explanation, rendering it unsustainable. The order was set aside, and the case remanded for reconsideration. The respondent was instructed to grant the taxpayer a fair opportunity, including a personal hearing, and issue a new order within three months. Consequently, the bank attachment linked to the assessment order was lifted. The petition was disposed of through remand.
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