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 ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
The High Court partly allowed the challenge to the assessment order passed by the second respondent for the Assessment Year 2017-2018. The Court quashed the impugned Assessment Order for violating principles of natural justice and lack of jurisdiction. It remitted the case to the respondents to pass a fresh order, subject to conditions: the petitioner shall deposit 10% of the disputed tax of Rs. 31,56,386/- within six weeks, and file a detailed reply to the quashed Assessment Order, treated as an addendum to the Show Cause Notice dated 11.02.2021, within thirty days. The petition was disposed of accordingly.
The High Court partly allowed the challenge to the assessment order passed by the second respondent for the Assessment Year 2017-2018. The Court quashed the impugned Assessment Order for violating principles of natural justice and lack of jurisdiction. It remitted the case to the respondents to pass a fresh order, subject to conditions: the petitioner shall deposit 10% of the disputed tax of Rs. 31,56,386/- within six weeks, and file a detailed reply to the quashed Assessment Order, treated as an addendum to the Show Cause Notice dated 11.02.2021, within thirty days. The petition was disposed of accordingly.
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