Charitable institution cannot lose exemption merely because some activities incidentally benefit a religious community; retrospective registration can...
Page of 4790
Press 'Enter' after typing page number.
2101 to 2120 of 95798 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Enhanced tax on unexplained income under section 115BBE, and the linked penalty under section 271AAC, are explained as prospective only where the amendment contains no express retrospective language. The text states that the law in force on the first day of the relevant year governs assessment, and a later fiscal amendment cannot alter completed tax consequences by implication. It further notes that section 271AAC is dependent on valid application of section 115BBE, and that doubling the principal tax rate is a substantive and onerous change. On that basis, the enhanced rate was treated as applicable from 01.04.2017, not to Financial Year 2016-17.
Enhanced tax on unexplained income under section 115BBE, and the linked penalty under section 271AAC, are explained as prospective only where the amendment contains no express retrospective language. The text states that the law in force on the first day of the relevant year governs assessment, and a later fiscal amendment cannot alter completed tax consequences by implication. It further notes that section 271AAC is dependent on valid application of section 115BBE, and that doubling the principal tax rate is a substantive and onerous change. On that basis, the enhanced rate was treated as applicable from 01.04.2017, not to Financial Year 2016-17.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4790
Join Channel
TaxTMI 
