Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
Substantial Government financing under section 10(23C)(iiiab) is tested with reference to Government grants received during the relevant previous year, as prescribed by the Explanation and Rule 2BBB, and not by cumulative grants from earlier years. The provision requires those grants to exceed 50% of total receipts, including voluntary contributions, for that year. Because the assessee's Government grants fell below that threshold in each relevant year, the statutory condition for exemption was not met. The educational-purpose condition was not in dispute, but exemption was still denied and the denial was upheld.
Substantial Government financing under section 10(23C)(iiiab) is tested with reference to Government grants received during the relevant previous year, as prescribed by the Explanation and Rule 2BBB, and not by cumulative grants from earlier years. The provision requires those grants to exceed 50% of total receipts, including voluntary contributions, for that year. Because the assessee's Government grants fell below that threshold in each relevant year, the statutory condition for exemption was not met. The educational-purpose condition was not in dispute, but exemption was still denied and the denial was upheld.
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