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...
Refund of accumulated unutilized ITC on export of services was rejected by treating the petitioner's zero-rated supplies under s.16 IGST Act as "intermediary services." On construing the service agreement with the foreign group entity and considering consistent refund sanctions under pre- and post-GST regimes along with binding precedent, the court held the petitioner neither acted as an intermediary nor provided intermediary services. Consequently, the order-in-original and computation sheet were quashed to the extent they denied refund on the intermediary ground, and the petition was allowed. - HC
Refund of accumulated unutilized ITC on export of services was rejected by treating the petitioner's zero-rated supplies under s.16 IGST Act as "intermediary services." On construing the service agreement with the foreign group entity and considering consistent refund sanctions under pre- and post-GST regimes along with binding precedent, the court held the petitioner neither acted as an intermediary nor provided intermediary services. Consequently, the order-in-original and computation sheet were quashed to the extent they denied refund on the intermediary ground, and the petition was allowed. - HC
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