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 court held that the petitioner was denied the principles of natural justice by not being given a reasonable opportunity to contest the tax demand on merits regarding the difference between GSTR 3B and GSTR 1, and the RCM liability mismatch. The petitioner provided proof of payment for the GSTR 3B and GSTR 1 difference, and substantiated the RCM liability mismatch as an inadvertent error through GSTR 3B returns, securing the revenue interest. The impugned order relating to RCM liability mismatch was set aside, and the matter was remanded for reconsideration by the respondent authority. The petitioner was directed to submit a reply to the show cause notice within 15 days. The petition was disposed of.
The court held that the petitioner was denied the principles of natural justice by not being given a reasonable opportunity to contest the tax demand on merits regarding the difference between GSTR 3B and GSTR 1, and the RCM liability mismatch. The petitioner provided proof of payment for the GSTR 3B and GSTR 1 difference, and substantiated the RCM liability mismatch as an inadvertent error through GSTR 3B returns, securing the revenue interest. The impugned order relating to RCM liability mismatch was set aside, and the matter was remanded for reconsideration by the respondent authority. The petitioner was directed to submit a reply to the show cause notice within 15 days. The petition was disposed of.
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