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 ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
The HC dismissed the writ petition, holding that notwithstanding procedural objections including alleged violation of natural justice, an unreasoned and unsigned order and breaches of Rule 26(3) and Rule 142(1) of the BGST/CGST Rules, the impugned order emanated from the petitioner's unequivocal admission of wrongfully availing and utilising input tax credit for 2017-18. The court found no substantive prejudice requiring judicial interference: the petitioner had filed a reply and no mandatory personal hearing omission vitiated the outcome. The Proper Officer merely raised a demand for interest under s.50(3) of the BGST Act, 2017; no penalty was imposed. Exercise of writ jurisdiction was declined and the petition was dismissed.
The HC dismissed the writ petition, holding that notwithstanding procedural objections including alleged violation of natural justice, an unreasoned and unsigned order and breaches of Rule 26(3) and Rule 142(1) of the BGST/CGST Rules, the impugned order emanated from the petitioner's unequivocal admission of wrongfully availing and utilising input tax credit for 2017-18. The court found no substantive prejudice requiring judicial interference: the petitioner had filed a reply and no mandatory personal hearing omission vitiated the outcome. The Proper Officer merely raised a demand for interest under s.50(3) of the BGST Act, 2017; no penalty was imposed. Exercise of writ jurisdiction was declined and the petition was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
