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 petition and upheld the impugned orders instituting proceedings under section 130 read with section 122 of the GST Act against the respondent. Relying on statutory obligations under section 35 and sub-section (6) thereof, the Court affirmed that where a survey reveals unaccounted goods the Proper Officer may determine tax liability and invoke provisions of sections 73/74 mutatis mutandis; the Court considered but distinguished prior authorities addressing use of section 130 for excess stock and concluded there was no jurisdictional infirmity or ground to interfere with the initiation of proceedings. Petition accordingly dismissed.
The HC dismissed the petition and upheld the impugned orders instituting proceedings under section 130 read with section 122 of the GST Act against the respondent. Relying on statutory obligations under section 35 and sub-section (6) thereof, the Court affirmed that where a survey reveals unaccounted goods the Proper Officer may determine tax liability and invoke provisions of sections 73/74 mutatis mutandis; the Court considered but distinguished prior authorities addressing use of section 130 for excess stock and concluded there was no jurisdictional infirmity or ground to interfere with the initiation of proceedings. Petition accordingly dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
