Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Step 1 – Issue Identification & Review
The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.
• Review the issues identified by the AI • Add, edit, remove, or refine issues as required
Step 2 – Draft Generation
Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.
• Relevant statutory provisions • Judicial precedents and Supreme Court, High Court and other citations • Issue-wise legal analysis • Practical arguments and supporting content • Professionally structured draft ready for further review.
Deemed use of funds: transactions and investments treated as benefiting interested persons where adequacy thresholds are not met. Deemed use or application of funds or assets treats a non-profit organisation's resources as applied for the benefit of an interested person where transactions meet specified conditions: loans without adequate security or interest; assets made available without adequate rent; payments exceeding reasonable remuneration for services; services provided without adequate compensation; purchases from or sales to interested persons at inadequate consideration; diversion of funds or property above the statutory threshold; and investments in concerns where an interested person has substantial interest exceeding the prescribed share limit.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed use of funds: transactions and investments treated as benefiting interested persons where adequacy thresholds are not met.
Deemed use or application of funds or assets treats a non-profit organisation's resources as applied for the benefit of an interested person where transactions meet specified conditions: loans without adequate security or interest; assets made available without adequate rent; payments exceeding reasonable remuneration for services; services provided without adequate compensation; purchases from or sales to interested persons at inadequate consideration; diversion of funds or property above the statutory threshold; and investments in concerns where an interested person has substantial interest exceeding the prescribed share limit.
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