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...
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ITAT held that omission to mention a Document Identification Number in the initiating notice did not invalidate the proceeding, because the retrospective validation under section 292BA cures a mere mistake, defect or omission where the order is otherwise referenced by DIN; the assessee's objection also had not been raised before the first appellate authority. On the penalty for cash acceptance, the Tribunal held that section 269SS applies only to receipt of a loan or deposit, not to repayment of earlier advances, but the factual nature of the receipts was not established on record. The matter was therefore remanded for fresh adjudication after giving the assessee one further opportunity to produce evidence.
ITAT held that omission to mention a Document Identification Number in the initiating notice did not invalidate the proceeding, because the retrospective validation under section 292BA cures a mere mistake, defect or omission where the order is otherwise referenced by DIN; the assessee's objection also had not been raised before the first appellate authority. On the penalty for cash acceptance, the Tribunal held that section 269SS applies only to receipt of a loan or deposit, not to repayment of earlier advances, but the factual nature of the receipts was not established on record. The matter was therefore remanded for fresh adjudication after giving the assessee one further opportunity to produce evidence.
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