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...
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The HC dismissed the petition and upheld imposition of a penalty of approximately Rs. 2.10 crores against the petitioner (a chartered accountant) for issuing 15CA certificates that facilitated foreign remittances in excess of Rs. 100 crores without requisite tax deduction. The court found the petitioner failed to demonstrate exhaustion of alternate remedies by way of appeal and rejected the asserted inability to make the statutory 7.5% pre-deposit as a bona fide impediment, concluding it was a collateral plea to avoid pre-deposit. In view of applicable precedent and the petitioner's deficient affidavits, the petition was not entertained and stands dismissed.
The HC dismissed the petition and upheld imposition of a penalty of approximately Rs. 2.10 crores against the petitioner (a chartered accountant) for issuing 15CA certificates that facilitated foreign remittances in excess of Rs. 100 crores without requisite tax deduction. The court found the petitioner failed to demonstrate exhaustion of alternate remedies by way of appeal and rejected the asserted inability to make the statutory 7.5% pre-deposit as a bona fide impediment, concluding it was a collateral plea to avoid pre-deposit. In view of applicable precedent and the petitioner's deficient affidavits, the petition was not entertained and stands dismissed.
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