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 ...
The Adjudicating Authority had the power to recall its earlier order, which contained factual mistakes, and pass a corrected order regarding the return of the Corporate Debtor's engine and APU, which were in the Appellant's possession and of greater value. The Appellate Tribunal held that the Adjudicating Authority did not review or recall its earlier order but corrected genuine mistakes based on mistaken facts. The power to recall a judgment can be exercised when the ground for reopening was not available or pleaded earlier, and no other remedy was available. The Adjudicating Authority correctly passed the impugned order, and the appeal was dismissed.
The Adjudicating Authority had the power to recall its earlier order, which contained factual mistakes, and pass a corrected order regarding the return of the Corporate Debtor's engine and APU, which were in the Appellant's possession and of greater value. The Appellate Tribunal held that the Adjudicating Authority did not review or recall its earlier order but corrected genuine mistakes based on mistaken facts. The power to recall a judgment can be exercised when the ground for reopening was not available or pleaded earlier, and no other remedy was available. The Adjudicating Authority correctly passed the impugned order, and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
