https://www.taxtmi.com/caselaws?id=272137 The Court set aside the tax authority's decision in a case involving a public limited company engaged in land development and sale. The Court found errors in interpreting tax laws related to land sale and construction charges, emphasizing that the expenses incurred were not sale consideration for construction. Additionally, the Court ruled that principles of natural justice were violated as the tax authority failed to grant a personal hearing and consider objections properly. Penalties imposed without due consideration were deemed invalid, leading to a reassessment with instructions for fair assessment procedures. en-us Tue, 19 Jan 2016 00:00:00 +0530 Sat, 27 Feb 2016 19:13:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272137 The Court set aside the tax authority's decision in a case involving a public limited company engaged in land development and sale. The Court found errors in interpreting tax laws related to land sale and construction charges, emphasizing that the expenses incurred were not sale consideration for construction. Additionally, the Court ruled that principles of natural justice were violated as the tax authority failed to grant a personal hearing and consider objections properly. Penalties imposed without due consideration were deemed invalid, leading to a reassessment with instructions for fair assessment procedures. Case-Laws VAT and Sales Tax Tue, 19 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272137