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 ...
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The Tribunal held that a school building constructed on leased land was liable to attachment because the material showed that an unlawful organisation had donated the funds used by the educational trust, and a substantial part of those tainted funds went into construction. The asset therefore bore the character of proceeds of crime. The trust not being declared unlawful, and the appellant not being an accused in the scheduled offence, did not prevent attachment when the property was created from tainted funds. The lease termination soon after provisional attachment was also treated as indicative of complicity. The attachment was sustained and the appeal was dismissed.
The Tribunal held that a school building constructed on leased land was liable to attachment because the material showed that an unlawful organisation had donated the funds used by the educational trust, and a substantial part of those tainted funds went into construction. The asset therefore bore the character of proceeds of crime. The trust not being declared unlawful, and the appellant not being an accused in the scheduled offence, did not prevent attachment when the property was created from tainted funds. The lease termination soon after provisional attachment was also treated as indicative of complicity. The attachment was sustained and the appeal was dismissed.
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