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...
Invalid pre-shipment inspection certificates (PSICs) alone do not convert an import into an improper import; non-compliance with PSIC/DGFT requirements attracts administrative inspection or sanctions but not confiscation under the improper-import standard absent evidence of prohibited or incriminating cargo. Consequently, confiscation and redemption fine were set aside for lack of prohibited content. Penal liability for abetment also requires proof of mens rea and active facilitation; finding no sufficient evidence that the importer, director or indenting agent abetted issuance or use of fraudulent PSICs, the Tribunal set aside penalties under the penal provision as unsustainable.
Invalid pre-shipment inspection certificates (PSICs) alone do not convert an import into an improper import; non-compliance with PSIC/DGFT requirements attracts administrative inspection or sanctions but not confiscation under the improper-import standard absent evidence of prohibited or incriminating cargo. Consequently, confiscation and redemption fine were set aside for lack of prohibited content. Penal liability for abetment also requires proof of mens rea and active facilitation; finding no sufficient evidence that the importer, director or indenting agent abetted issuance or use of fraudulent PSICs, the Tribunal set aside penalties under the penal provision as unsustainable.
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