Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The court held that the gift deed executed by the defaulting brother in favor of the petitioner was a fraudulent attempt to obstruct the government from recovering legitimate dues. The timing of the gift deed, soon after the defaulter order, raised suspicion. The petitioner's conduct was questionable, including suppressing vital documents. The transaction appeared solely aimed at obstructing the sale of property to recover government dues. The court dismissed the petition with costs, stating that a petitioner with such conduct does not deserve extraordinary writ jurisdiction's assistance. The respondents were directed to initiate recovery proceedings against the petitioner for the defaulted dues.
The court held that the gift deed executed by the defaulting brother in favor of the petitioner was a fraudulent attempt to obstruct the government from recovering legitimate dues. The timing of the gift deed, soon after the defaulter order, raised suspicion. The petitioner's conduct was questionable, including suppressing vital documents. The transaction appeared solely aimed at obstructing the sale of property to recover government dues. The court dismissed the petition with costs, stating that a petitioner with such conduct does not deserve extraordinary writ jurisdiction's assistance. The respondents were directed to initiate recovery proceedings against the petitioner for the defaulted dues.
Note: It is a system-generated summary and is for quick reference only.