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 dismissed the writ petition challenging levy of penalties under section 129(1)(a) and 129(1)(b) of the GST Act, upholding the proper officer's decision based on his reasonable belief that the consignor's documents did not substantiate legitimacy of the goods in transit. The court accepted evidentiary inconsistencies, including the driver's statement regarding loading time and place and absence of payment particulars, and declined to resolve ownership genuineness on writ jurisdiction. The petitioner remains entitled to seek immediate release of goods under section 129(1)(b) by application to the proper officer (to be decided within two working days) and to pursue available appellate remedies.
The HC dismissed the writ petition challenging levy of penalties under section 129(1)(a) and 129(1)(b) of the GST Act, upholding the proper officer's decision based on his reasonable belief that the consignor's documents did not substantiate legitimacy of the goods in transit. The court accepted evidentiary inconsistencies, including the driver's statement regarding loading time and place and absence of payment particulars, and declined to resolve ownership genuineness on writ jurisdiction. The petitioner remains entitled to seek immediate release of goods under section 129(1)(b) by application to the proper officer (to be decided within two working days) and to pursue available appellate remedies.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
