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 ...
Filing of Form 10-IE to opt for the new tax regime u/s 115BAC is directory, not mandatory. If filed before assessment, the Assessing Officer must consider it. The requirement to file Form 67 for Foreign Tax Credit before the due date u/s 139(1) is also directory. Technical glitches preventing timely filing should not deprive the assessee of benefits, as held by the High Court. The Tribunal directed the CPC to consider Form 10-IE filed by the assessee and pass appropriate orders, allowing the appeal for statistical purposes.
Filing of Form 10-IE to opt for the new tax regime u/s 115BAC is directory, not mandatory. If filed before assessment, the Assessing Officer must consider it. The requirement to file Form 67 for Foreign Tax Credit before the due date u/s 139(1) is also directory. Technical glitches preventing timely filing should not deprive the assessee of benefits, as held by the High Court. The Tribunal directed the CPC to consider Form 10-IE filed by the assessee and pass appropriate orders, allowing the appeal for statistical purposes.
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