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 ...
Whether the 01.02.2019 amendment curtailing the time for refund applications could retrospectively extinguish accrued entitlement to refund of accumulated ITC under an inverted duty structure was determined by applying the presumption against retrospectivity to substantive curtailment of vested rights; absent express retrospective operation, the unamended "relevant date" continued to govern periods prior to the amendment, and the refund claims were not time-barred, including for July 2017-December 2018 (also within extended time under a notification) and January-March 2019 under Section 54. The rejection for January-March 2019 for alleged non-receipt of eligible inputs was found unreasoned. The impugned order was set aside and the matter remanded for fresh determination. - HC
Whether the 01.02.2019 amendment curtailing the time for refund applications could retrospectively extinguish accrued entitlement to refund of accumulated ITC under an inverted duty structure was determined by applying the presumption against retrospectivity to substantive curtailment of vested rights; absent express retrospective operation, the unamended "relevant date" continued to govern periods prior to the amendment, and the refund claims were not time-barred, including for July 2017-December 2018 (also within extended time under a notification) and January-March 2019 under Section 54. The rejection for January-March 2019 for alleged non-receipt of eligible inputs was found unreasoned. The impugned order was set aside and the matter remanded for fresh determination. - HC
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