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...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
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Where an assessing authority relies on disputed information to complete assessment, all material in the Department's possession must first be disclosed to the assessee. The High Court held that incomplete invoice-wise CBIC data could not justify an adverse assessment, and no adverse presumption could be drawn from material that was not complete or fully shared unless corroborated by other evidence. Because the assessment proceeded without full disclosure of the departmental record, the order was vitiated for breach of natural justice. The final assessment order was set aside and the matter was remitted for fresh assessment after disclosure of the material and grant of proper opportunity to the assessee.
Where an assessing authority relies on disputed information to complete assessment, all material in the Department's possession must first be disclosed to the assessee. The High Court held that incomplete invoice-wise CBIC data could not justify an adverse assessment, and no adverse presumption could be drawn from material that was not complete or fully shared unless corroborated by other evidence. Because the assessment proceeded without full disclosure of the departmental record, the order was vitiated for breach of natural justice. The final assessment order was set aside and the matter was remitted for fresh assessment after disclosure of the material and grant of proper opportunity to the assessee.
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