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 court found merit in the petitioner's submission that the impugned order of assessment violated principles of natural justice by traversing beyond the show cause notice, denying the petitioner an opportunity to present their case. Regarding the discrepancy between GSTR-2A and GSTR-3B, the court held that the order proceeded without considering the petitioner's reply and supporting documentary evidence. Concerning the denial of ITC on discounts, finance charges, and depreciation, the court granted the petitioner an opportunity to submit objections and supporting documents before the adjudicating authority. The impugned order was set aside, and the petitioner was directed to deposit the tax liability for the three issues within four weeks. Upon compliance, the impugned order shall be treated as a show cause notice, and the petitioner shall submit objections with supporting documents for all four issues within four weeks for reconsideration by the respondents after a reasonable opportunity of hearing.
The court found merit in the petitioner's submission that the impugned order of assessment violated principles of natural justice by traversing beyond the show cause notice, denying the petitioner an opportunity to present their case. Regarding the discrepancy between GSTR-2A and GSTR-3B, the court held that the order proceeded without considering the petitioner's reply and supporting documentary evidence. Concerning the denial of ITC on discounts, finance charges, and depreciation, the court granted the petitioner an opportunity to submit objections and supporting documents before the adjudicating authority. The impugned order was set aside, and the petitioner was directed to deposit the tax liability for the three issues within four weeks. Upon compliance, the impugned order shall be treated as a show cause notice, and the petitioner shall submit objections with supporting documents for all four issues within four weeks for reconsideration by the respondents after a reasonable opportunity of hearing.
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