Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Section 13(1)(b) concerns eligibility for exemption under sections 11 and 12 and is to be examined at the assessment stage based on the material then available. Registration under section 12AB is confined to examining the genuineness of activities, the stated objects, and compliance with other laws relevant to achieving those objects; it does not require inquiry into the application of funds for exemption. The text therefore treats denial of registration to a religious trust solely by applying section 13(1)(b) as unsustainable. It further explains that applications under section 12A(1)(ac)(iii) fall under section 12AB(1)(b), so section 12AB(4) cannot be invoked to reconsider or cancel registration or provisional registration in those circumstances.
Section 13(1)(b) concerns eligibility for exemption under sections 11 and 12 and is to be examined at the assessment stage based on the material then available. Registration under section 12AB is confined to examining the genuineness of activities, the stated objects, and compliance with other laws relevant to achieving those objects; it does not require inquiry into the application of funds for exemption. The text therefore treats denial of registration to a religious trust solely by applying section 13(1)(b) as unsustainable. It further explains that applications under section 12A(1)(ac)(iii) fall under section 12AB(1)(b), so section 12AB(4) cannot be invoked to reconsider or cancel registration or provisional registration in those circumstances.
Note: It is a system-generated summary and is for quick reference only.