Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Capital gains tax exemption bonds issued u/s 54EC of the Income Tax Act, 1961, are long-term specified assets with a mandatory lock-in period of 5 years. The legislative intent behind this lock-in period is to ensure long-term capital allocation and financial stability. The bonds cannot be transferred, converted into money, or used as security for a loan within the lock-in period, as it would violate the statutory purpose and contractual terms. Premature cancellation or redemption of these bonds is not permissible, even if the capital gains exemption is not claimed or the investor is willing to forgo interest. Allowing such premature redemption would undermine the object and purpose of the bond scheme and contravene statutory obligations u/s 54EC. The terms and conditions governing the bonds are binding on both parties, and cannot be unilaterally altered or modified through judicial intervention under Article 226 of the Constitution.
Capital gains tax exemption bonds issued u/s 54EC of the Income Tax Act, 1961, are long-term specified assets with a mandatory lock-in period of 5 years. The legislative intent behind this lock-in period is to ensure long-term capital allocation and financial stability. The bonds cannot be transferred, converted into money, or used as security for a loan within the lock-in period, as it would violate the statutory purpose and contractual terms. Premature cancellation or redemption of these bonds is not permissible, even if the capital gains exemption is not claimed or the investor is willing to forgo interest. Allowing such premature redemption would undermine the object and purpose of the bond scheme and contravene statutory obligations u/s 54EC. The terms and conditions governing the bonds are binding on both parties, and cannot be unilaterally altered or modified through judicial intervention under Article 226 of the Constitution.
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