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 considered the maintainability of a writ petition seeking a writ of prohibition despite the petitioner not challenging the allegedly erroneous orders. The Court clarified that a writ of prohibition is typically used to supervise and restrict courts or tribunals from acting beyond their jurisdiction. Reference was made to a Supreme Court case emphasizing the distinction between issuing writs of certiorari and prohibition to correct jurisdictional errors. While both writs can correct jurisdictional errors, certiorari corrects after a decision, and prohibition can prevent errors before a decision. In this case, as the appellate authority had already made a determination, issuing a writ of prohibition was deemed unnecessary. The Court found the petitioner's request to defer recovery without seeking adjudication of rights insufficient, leading to the dismissal of the writ petition.
The High Court considered the maintainability of a writ petition seeking a writ of prohibition despite the petitioner not challenging the allegedly erroneous orders. The Court clarified that a writ of prohibition is typically used to supervise and restrict courts or tribunals from acting beyond their jurisdiction. Reference was made to a Supreme Court case emphasizing the distinction between issuing writs of certiorari and prohibition to correct jurisdictional errors. While both writs can correct jurisdictional errors, certiorari corrects after a decision, and prohibition can prevent errors before a decision. In this case, as the appellate authority had already made a determination, issuing a writ of prohibition was deemed unnecessary. The Court found the petitioner's request to defer recovery without seeking adjudication of rights insufficient, leading to the dismissal of the writ petition.
Note: It is a system-generated summary and is for quick reference only.