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 HC held that the petitioner's documents, though submitted belatedly to the first respondent, were not considered due to non-compliance with the prescribed format and timing. The second respondent also declined to admit these documents on appeal, citing procedural defaults and dismissal of the appeal. The court found that the first respondent erred in dismissing the documents solely based on format non-conformity, as substantive reconciliation details had been furnished. The second respondent should have considered these documents at the appellate stage instead of rejecting the appeal. The petitioner was thus deprived of a valuable right. Consequently, the HC allowed the petition and remitted the matter to the first respondent for fresh consideration of the documents filed, directing disposal in accordance with law expeditiously.
The HC held that the petitioner's documents, though submitted belatedly to the first respondent, were not considered due to non-compliance with the prescribed format and timing. The second respondent also declined to admit these documents on appeal, citing procedural defaults and dismissal of the appeal. The court found that the first respondent erred in dismissing the documents solely based on format non-conformity, as substantive reconciliation details had been furnished. The second respondent should have considered these documents at the appellate stage instead of rejecting the appeal. The petitioner was thus deprived of a valuable right. Consequently, the HC allowed the petition and remitted the matter to the first respondent for fresh consideration of the documents filed, directing disposal in accordance with law expeditiously.
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