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 ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
The HC dismissed a petition challenging an attachment order issued under Section 34 of the Maharashtra Value Added Tax Act for unpaid tax dues. The court found that the petitioner's claim of exclusive ownership through nomination was legally untenable, as nomination does not confer full title to property. Despite being nominated after the intestate death of Madhusudan, the petitioner held the property in trust for all legal heirs per succession laws. The purported transfer of interest to the petitioner by her sons in June 2017 occurred after tax arrears accrued (FY 2008-09 and 2012-13), making the undivided share of her son Jayesh subject to Section 38 of the Act.
The HC dismissed a petition challenging an attachment order issued under Section 34 of the Maharashtra Value Added Tax Act for unpaid tax dues. The court found that the petitioner's claim of exclusive ownership through nomination was legally untenable, as nomination does not confer full title to property. Despite being nominated after the intestate death of Madhusudan, the petitioner held the property in trust for all legal heirs per succession laws. The purported transfer of interest to the petitioner by her sons in June 2017 occurred after tax arrears accrued (FY 2008-09 and 2012-13), making the undivided share of her son Jayesh subject to Section 38 of the Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
