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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 ...
An efficacious statutory appeal ordinarily bars recourse to Article 226, and the natural justice exception applies only where denial of hearing is shown on the facts. The Court found that the petitioner had been served with the show cause notice, given time to reply, and granted further extension, but filed no reply or material showing denial of hearing; the writ challenge was therefore not maintainable. It also held that completion of audit under Section 65 does not divest the proper officer of jurisdiction to initiate proceedings under Section 73, because the statutory scheme contemplates such action where audit reveals tax liability or irregular input tax credit. The writ petition was dismissed, with liberty to pursue the appellate remedy.
An efficacious statutory appeal ordinarily bars recourse to Article 226, and the natural justice exception applies only where denial of hearing is shown on the facts. The Court found that the petitioner had been served with the show cause notice, given time to reply, and granted further extension, but filed no reply or material showing denial of hearing; the writ challenge was therefore not maintainable. It also held that completion of audit under Section 65 does not divest the proper officer of jurisdiction to initiate proceedings under Section 73, because the statutory scheme contemplates such action where audit reveals tax liability or irregular input tax credit. The writ petition was dismissed, with liberty to pursue the appellate remedy.
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