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 ...
Service tax demand based solely on Form 26AS was unsustainable because taxability had to be determined from the statute, relevant records and exemption materials, not inferred from third-party information. The Court held that the authorities failed to examine the plea that the receipts related to government works contracts covered by exemption and therefore did not establish any taxable liability under the Finance Act, 1994. It also held that the extended limitation period could be invoked only on the statutory grounds of fraud, suppression or intent to evade, none of which were properly found. The writ petition was maintainable despite an alternative appeal remedy because the impugned proceedings suffered from jurisdictional error and patent legal infirmity, and the demand, interest and penalty were quashed.
Service tax demand based solely on Form 26AS was unsustainable because taxability had to be determined from the statute, relevant records and exemption materials, not inferred from third-party information. The Court held that the authorities failed to examine the plea that the receipts related to government works contracts covered by exemption and therefore did not establish any taxable liability under the Finance Act, 1994. It also held that the extended limitation period could be invoked only on the statutory grounds of fraud, suppression or intent to evade, none of which were properly found. The writ petition was maintainable despite an alternative appeal remedy because the impugned proceedings suffered from jurisdictional error and patent legal infirmity, and the demand, interest and penalty were quashed.
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