Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Government salary grant received by a charitable trust under a binding condition for use only in salary payments was treated as a tied-up receipt and excluded from the income base for accumulation under section 11(1)(a). The Tribunal held that accumulation is available only in respect of income held under trust that is at the assessee's disposal and capable of being applied or set apart at its discretion; here, the trust acted merely as a conduit without dominion or beneficial control. The Bombay HC ruling in CIT v. Gem & Jewellery Export Promotion Council was distinguished because it concerned characterisation of grants as income, not their inclusion in the accumulation base.
Government salary grant received by a charitable trust under a binding condition for use only in salary payments was treated as a tied-up receipt and excluded from the income base for accumulation under section 11(1)(a). The Tribunal held that accumulation is available only in respect of income held under trust that is at the assessee's disposal and capable of being applied or set apart at its discretion; here, the trust acted merely as a conduit without dominion or beneficial control. The Bombay HC ruling in CIT v. Gem & Jewellery Export Promotion Council was distinguished because it concerned characterisation of grants as income, not their inclusion in the accumulation base.
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