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...
Retrospective GST demand on insurance supplies to SEZ units raised a prima facie jurisdictional issue, because the amendment inserting the words "for authorised operations" could not, at this stage, be used to tax past supplies that had been treated as zero-rated. The Court found the challenge arguable on the competence to levy tax retrospectively for the period before 1 October 2023 and noted the statutory definition of "recipient" under the CGST Act, observing that the SEZ units had subscribed to the policies and paid the consideration. Pending final hearing, the impugned orders were stayed.
Retrospective GST demand on insurance supplies to SEZ units raised a prima facie jurisdictional issue, because the amendment inserting the words "for authorised operations" could not, at this stage, be used to tax past supplies that had been treated as zero-rated. The Court found the challenge arguable on the competence to levy tax retrospectively for the period before 1 October 2023 and noted the statutory definition of "recipient" under the CGST Act, observing that the SEZ units had subscribed to the policies and paid the consideration. Pending final hearing, the impugned orders were stayed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
