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 High Court set aside the impugned order dated 08.04.2024 for violation of principles of natural justice due to non-service of show cause notices and assessment order. The case involved availment of input tax credit on alleged supplies from bill traders based on bogus invoices without actual goods involvement. Considering the petitioner had remitted the disputed taxes, the Court granted them a final opportunity to file objections within two weeks, treating the impugned order as a show cause notice. The petition was disposed of accordingly.
The High Court set aside the impugned order dated 08.04.2024 for violation of principles of natural justice due to non-service of show cause notices and assessment order. The case involved availment of input tax credit on alleged supplies from bill traders based on bogus invoices without actual goods involvement. Considering the petitioner had remitted the disputed taxes, the Court granted them a final opportunity to file objections within two weeks, treating the impugned order as a show cause notice. The petition was disposed of accordingly.
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