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 allowed the petition challenging the rejection of condonation of delay in income tax return filing. The court found the respondent authorities failed to consider that the compensation received was tax-exempt, and the petitioner was entitled to a TDS refund. By invoking Section 119 powers, the court quashed the impugned order, recognizing the legislative intent to prevent unnecessary hardships for assessees in claiming legitimate refunds. The decision emphasizes procedural fairness and taxpayer rights in tax assessment processes.
HC allowed the petition challenging the rejection of condonation of delay in income tax return filing. The court found the respondent authorities failed to consider that the compensation received was tax-exempt, and the petitioner was entitled to a TDS refund. By invoking Section 119 powers, the court quashed the impugned order, recognizing the legislative intent to prevent unnecessary hardships for assessees in claiming legitimate refunds. The decision emphasizes procedural fairness and taxpayer rights in tax assessment processes.
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