Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
A charitable trust assessed as an Association of Persons was held taxable at normal slab rates, not at the maximum marginal rate, because its activities were for the benefit of the public at large and the trustees had no share in the income. The Tribunal treated the issue as covered by co-ordinate Bench decisions on identical facts, including the assessee's own earlier case, and accepted that such a trust cannot be characterised as an AOP with determinate or indeterminate member-shares for the higher rate to apply. The challenge to levy of tax at the maximum marginal rate was allowed.
A charitable trust assessed as an Association of Persons was held taxable at normal slab rates, not at the maximum marginal rate, because its activities were for the benefit of the public at large and the trustees had no share in the income. The Tribunal treated the issue as covered by co-ordinate Bench decisions on identical facts, including the assessee's own earlier case, and accepted that such a trust cannot be characterised as an AOP with determinate or indeterminate member-shares for the higher rate to apply. The challenge to levy of tax at the maximum marginal rate was allowed.
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