Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Whistleblower reward received from the U.S. Securities and Exchange Commission was held taxable as income, because section 2(24) is of wide amplitude and the payment arose from arranged pursuit of whistleblower claims, legal assistance on success-fee terms, collection of material, filing of the complaint, and cooperation in the investigation. The Tribunal found a clear element of expectation and quid pro quo, so the receipt was neither gratuitous nor a windfall or capital receipt. It further held that the one-time character of the payment did not make it capital, and that the amount was at least taxable as income from other sources under section 56(1).
Whistleblower reward received from the U.S. Securities and Exchange Commission was held taxable as income, because section 2(24) is of wide amplitude and the payment arose from arranged pursuit of whistleblower claims, legal assistance on success-fee terms, collection of material, filing of the complaint, and cooperation in the investigation. The Tribunal found a clear element of expectation and quid pro quo, so the receipt was neither gratuitous nor a windfall or capital receipt. It further held that the one-time character of the payment did not make it capital, and that the amount was at least taxable as income from other sources under section 56(1).
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