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...
HC entertained the writ petition challenging rejection of a rectification application and the consequential assessment order, noting that the petitioner had failed to respond to the pre-assessment notice. Applying its consistent view in analogous matters, HC quashed the impugned assessment and rectification rejection orders and remitted the matter to the Assessing Authority for de novo consideration. The remand was made conditional upon the petitioner-assessee depositing a quantified portion of the disputed tax, between 25% and 100%, as determined with reference to the delay in approaching HC. The Assessing Authority was directed to afford the petitioner a reasonable opportunity of being heard and to pass a fresh, reasoned order in accordance with law. With these directions and conditions, the writ petition was disposed of.
HC entertained the writ petition challenging rejection of a rectification application and the consequential assessment order, noting that the petitioner had failed to respond to the pre-assessment notice. Applying its consistent view in analogous matters, HC quashed the impugned assessment and rectification rejection orders and remitted the matter to the Assessing Authority for de novo consideration. The remand was made conditional upon the petitioner-assessee depositing a quantified portion of the disputed tax, between 25% and 100%, as determined with reference to the delay in approaching HC. The Assessing Authority was directed to afford the petitioner a reasonable opportunity of being heard and to pass a fresh, reasoned order in accordance with law. With these directions and conditions, the writ petition was disposed of.
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