Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Rule 16 permits recovery of erroneously or excessively paid drawback but, where no limitation period is prescribed, the power must be exercised within a reasonable period. Non-production of proof that export proceeds were realised, without allegations of fraudulent availment or suppression, does not invoke the fraud-based exception to limitation. Unexplained delay after the last drawback payment renders recovery proceedings time-barred. Availability of an alternative statutory appeal does not prevent writ relief against recovery action taken without statutory authority. The recovery order, consequential action, account freeze and recovered amount were set aside or reversed accordingly.
Rule 16 permits recovery of erroneously or excessively paid drawback but, where no limitation period is prescribed, the power must be exercised within a reasonable period. Non-production of proof that export proceeds were realised, without allegations of fraudulent availment or suppression, does not invoke the fraud-based exception to limitation. Unexplained delay after the last drawback payment renders recovery proceedings time-barred. Availability of an alternative statutory appeal does not prevent writ relief against recovery action taken without statutory authority. The recovery order, consequential action, account freeze and recovered amount were set aside or reversed accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4921 
