Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
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Section 167B, which applies the maximum marginal rate where members' shares in an AOP or BOI are indeterminate or unknown, was held inapplicable to a society registered under the Karnataka Societies Registration Act, 1960 because the provision expressly excludes societies registered under the Societies Registration Act, 1860 or a corresponding law. The Tribunal therefore held that the apartment owners' welfare society was taxable at the normal applicable slab rates, not at the maximum marginal rate, with support from a coordinate bench decision and the Revenue's earlier acceptance of normal taxation.
Section 167B, which applies the maximum marginal rate where members' shares in an AOP or BOI are indeterminate or unknown, was held inapplicable to a society registered under the Karnataka Societies Registration Act, 1960 because the provision expressly excludes societies registered under the Societies Registration Act, 1860 or a corresponding law. The Tribunal therefore held that the apartment owners' welfare society was taxable at the normal applicable slab rates, not at the maximum marginal rate, with support from a coordinate bench decision and the Revenue's earlier acceptance of normal taxation.
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