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 held that, pursuant to Notification No.04/2018 fixing time of supply under a JDA as the date of conveyance or allotment, no GST liability arose on the petitioner at the date of the JDA; subsequent evidence, including the sale deed showing the developer's acquisition of title and favourable findings by the DGGI, confirm the petitioner is not taxable in respect of the Project. Consequently the Rs. 7 crore deposited by the petitioner is refundable, with interest at 6% per annum from the date of deposit. The refund is to be remitted within six weeks. The Revenue's contrary affidavits were rejected insofar as they sought to fix tax liability on the petitioner.
The HC held that, pursuant to Notification No.04/2018 fixing time of supply under a JDA as the date of conveyance or allotment, no GST liability arose on the petitioner at the date of the JDA; subsequent evidence, including the sale deed showing the developer's acquisition of title and favourable findings by the DGGI, confirm the petitioner is not taxable in respect of the Project. Consequently the Rs. 7 crore deposited by the petitioner is refundable, with interest at 6% per annum from the date of deposit. The refund is to be remitted within six weeks. The Revenue's contrary affidavits were rejected insofar as they sought to fix tax liability on the petitioner.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
