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 ...
Misdeclaration of an imported vehicle in description, origin, value and seating capacity attracted confiscation, redemption fine, duty and penalty under a scheme operating in distinct fields. The Court held that re-export after payment of redemption fine did not extinguish the importer's separate liability to duty, appropriation and other consequences flowing from improper import; Section 125(2) preserves liability to duty and charges in addition to redemption fine. It also upheld penalty for knowingly using false or incorrect documents, finding that Section 114AA covers making, signing or using materially false declarations and does not require a separate allegation that the importer personally caused falsification. The Tribunal's contrary view was set aside.
Misdeclaration of an imported vehicle in description, origin, value and seating capacity attracted confiscation, redemption fine, duty and penalty under a scheme operating in distinct fields. The Court held that re-export after payment of redemption fine did not extinguish the importer's separate liability to duty, appropriation and other consequences flowing from improper import; Section 125(2) preserves liability to duty and charges in addition to redemption fine. It also upheld penalty for knowingly using false or incorrect documents, finding that Section 114AA covers making, signing or using materially false declarations and does not require a separate allegation that the importer personally caused falsification. The Tribunal's contrary view was set aside.
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