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 allowed the writ petition filed by the assessee and quashed the detention and seizure orders passed under GST law. The HC held that mere expiry of the e-way bill, in the facts of the case, did not establish any intention to evade tax, particularly when all other requisite documents, including tax invoice mentioning specific engine and body numbers of the two-wheelers, accompanied the goods. The Revenue failed to produce any material indicating prior movement of vehicles with identical identification numbers or any contrary GPS data, while the GPS report supported delivery at the declared destination. As the goods were new, unregistered two-wheelers that could not be lawfully plied on road and there was no evidence of misuse or diversion, the proceedings under detention and seizure were held unsustainable. All consequential demands and penalties were set aside.
The HC allowed the writ petition filed by the assessee and quashed the detention and seizure orders passed under GST law. The HC held that mere expiry of the e-way bill, in the facts of the case, did not establish any intention to evade tax, particularly when all other requisite documents, including tax invoice mentioning specific engine and body numbers of the two-wheelers, accompanied the goods. The Revenue failed to produce any material indicating prior movement of vehicles with identical identification numbers or any contrary GPS data, while the GPS report supported delivery at the declared destination. As the goods were new, unregistered two-wheelers that could not be lawfully plied on road and there was no evidence of misuse or diversion, the proceedings under detention and seizure were held unsustainable. All consequential demands and penalties were set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
