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 ...
CESTAT adjudicated a dispute regarding seized traveller's cheques, finding the customs department's encashment and retention of funds arbitrary. The tribunal determined that the cheques, being non-perishable dollar-denominated instruments, should have been handled with greater procedural care. Critically, the court ruled that the appellant was entitled to interest on the deposited amount from the date of deposit, less redemption fines and penalties, with payment mandated within two months. The decision emphasized preventing unjust enrichment and protecting property rights by recognizing the potential financial loss to the appellant due to unauthorized fund retention. Appeal was allowed, directing monetary compensation to the appellant.
CESTAT adjudicated a dispute regarding seized traveller's cheques, finding the customs department's encashment and retention of funds arbitrary. The tribunal determined that the cheques, being non-perishable dollar-denominated instruments, should have been handled with greater procedural care. Critically, the court ruled that the appellant was entitled to interest on the deposited amount from the date of deposit, less redemption fines and penalties, with payment mandated within two months. The decision emphasized preventing unjust enrichment and protecting property rights by recognizing the potential financial loss to the appellant due to unauthorized fund retention. Appeal was allowed, directing monetary compensation to the appellant.
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