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...
Cancellation of GST registration for mere non-filing of returns was set aside where there was no allegation of dubious tax evasion. The HC held that continued cancellation would be counterproductive to revenue because the taxpayer could not carry on business or raise invoices, which would impede tax recovery. Following its earlier pragmatic approach, the Court restored registration conditionally on filing all pending returns for the default period and paying the requisite tax, interest, fine and penalty within the stipulated time; failing compliance, the writ petition would stand dismissed and restoration would not follow.
Cancellation of GST registration for mere non-filing of returns was set aside where there was no allegation of dubious tax evasion. The HC held that continued cancellation would be counterproductive to revenue because the taxpayer could not carry on business or raise invoices, which would impede tax recovery. Following its earlier pragmatic approach, the Court restored registration conditionally on filing all pending returns for the default period and paying the requisite tax, interest, fine and penalty within the stipulated time; failing compliance, the writ petition would stand dismissed and restoration would not follow.
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