Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
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A society registered under the Societies Registration Act, 1860 was held not liable to tax at the maximum marginal rate merely because it was treated as an association of persons with indeterminate shares. The Tribunal found that the statutory exception for a registered society had been overlooked, so the income had to be recomputed at the rates applicable to an individual. The TDS credit claim was not decided on merits and was remitted to the Assessing Officer for verification, with credit to be allowed if the claim and corresponding income were correctly reflected in the return.
A society registered under the Societies Registration Act, 1860 was held not liable to tax at the maximum marginal rate merely because it was treated as an association of persons with indeterminate shares. The Tribunal found that the statutory exception for a registered society had been overlooked, so the income had to be recomputed at the rates applicable to an individual. The TDS credit claim was not decided on merits and was remitted to the Assessing Officer for verification, with credit to be allowed if the claim and corresponding income were correctly reflected in the return.
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