Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Customs jurisdiction defined for Principal Commissioner, Vishakhapatnam, covering specified ports, districts and India's adjacent EEZ; effective on pu...
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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