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 ...
Rejection of a refund claim without considering the taxpayer's request for a personal hearing and without fixing a hearing date violated the prescribed statutory procedure. The High Court noted that the reply to the show cause notice had expressly sought a virtual hearing, yet the authority proceeded to reject the claim without granting that opportunity. As the Rules required hearing before a refund application could be rejected, the order was held to suffer from procedural breach. The refund rejection was quashed and the matter remitted to the competent authority for fresh consideration in accordance with law.
Rejection of a refund claim without considering the taxpayer's request for a personal hearing and without fixing a hearing date violated the prescribed statutory procedure. The High Court noted that the reply to the show cause notice had expressly sought a virtual hearing, yet the authority proceeded to reject the claim without granting that opportunity. As the Rules required hearing before a refund application could be rejected, the order was held to suffer from procedural breach. The refund rejection was quashed and the matter remitted to the competent authority for fresh consideration in accordance with law.
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