PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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Income of a public charitable trust with objects of general public utility and no entitlement of members or trustees to any share in the income is not to be taxed at the maximum marginal rate merely because the trust is unregistered under sections 12AA/12AB and does not claim exemption under sections 11 to 13. The note states that the rule in section 164 applies to income receivable for beneficiaries with indeterminate or unknown shares and cannot be mechanically extended to every public charitable trust. Taxation should instead be at the normal rates applicable to an association of persons where no beneficiary share exists.
Income of a public charitable trust with objects of general public utility and no entitlement of members or trustees to any share in the income is not to be taxed at the maximum marginal rate merely because the trust is unregistered under sections 12AA/12AB and does not claim exemption under sections 11 to 13. The note states that the rule in section 164 applies to income receivable for beneficiaries with indeterminate or unknown shares and cannot be mechanically extended to every public charitable trust. Taxation should instead be at the normal rates applicable to an association of persons where no beneficiary share exists.
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