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...
Challenge to non-speaking order of assessment and consequential rectification order. Order passed without considering objections, violating principles of natural justice. Revenue agreed to re-do assessment. High Court set aside assessment order, treating it as show cause notice. Petitioner to appear before Revenue, submit objections and evidence. Revenue to pass speaking order after hearing petitioner. Rectification petition dismissed as assessment order set aside, rendering it infructuous. Non-application of mind by adjudicating authority warranted setting aside orders and re-adjudication in accordance with law after following due process.
Challenge to non-speaking order of assessment and consequential rectification order. Order passed without considering objections, violating principles of natural justice. Revenue agreed to re-do assessment. High Court set aside assessment order, treating it as show cause notice. Petitioner to appear before Revenue, submit objections and evidence. Revenue to pass speaking order after hearing petitioner. Rectification petition dismissed as assessment order set aside, rendering it infructuous. Non-application of mind by adjudicating authority warranted setting aside orders and re-adjudication in accordance with law after following due process.
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