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 ...
Show Cause Notice u/s 74 of CGST Act lacks jurisdiction as it fails to establish fraud, willful misstatement or suppression of facts by petitioner in availing Input Tax Credit. Proceedings dropped earlier u/s 73 cannot be reopened u/s 74 without fulfilling prerequisites. High Court maintains consistent view that writ petition against jurisdictionally deficient Show Cause Notice is maintainable. Impugned Show Cause Notice quashed for want of basic ingredients required to initiate action u/s 74, rendering entire exercise without jurisdiction.
Show Cause Notice u/s 74 of CGST Act lacks jurisdiction as it fails to establish fraud, willful misstatement or suppression of facts by petitioner in availing Input Tax Credit. Proceedings dropped earlier u/s 73 cannot be reopened u/s 74 without fulfilling prerequisites. High Court maintains consistent view that writ petition against jurisdictionally deficient Show Cause Notice is maintainable. Impugned Show Cause Notice quashed for want of basic ingredients required to initiate action u/s 74, rendering entire exercise without jurisdiction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
