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 ...
HC held that challenge to vires of Section 17(5)(c) and 17(5)(d) of CGST Act/Punjab GST Act 2017 is no longer res integra following SC's ruling in Safari Retreats case. While SC upheld constitutional validity of these provisions, it directed High Courts to examine functionality test in individual cases. Present petition partially allowed through remand to respondent authorities for re-examination and issuance of speaking order after providing petitioner hearing opportunity. Matter to be evaluated based on functionality test as per SC guidelines.
HC held that challenge to vires of Section 17(5)(c) and 17(5)(d) of CGST Act/Punjab GST Act 2017 is no longer res integra following SC's ruling in Safari Retreats case. While SC upheld constitutional validity of these provisions, it directed High Courts to examine functionality test in individual cases. Present petition partially allowed through remand to respondent authorities for re-examination and issuance of speaking order after providing petitioner hearing opportunity. Matter to be evaluated based on functionality test as per SC guidelines.
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