Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
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Judicial review of a Look Out Circular is confined to testing whether the originating authority acted within constitutional and legal limits; it does not permit re-evaluation of that authority's subjective satisfaction that foreign travel would harm India's economic interests. Review may intervene where no material exists, or the material is speculative or so insubstantial that no reasonable authority could rely on it. Material relating to alleged trade-based money laundering, hawala transactions, over-invoiced exports, fraudulent export incentives, bogus purchases, fake invoices and undisclosed foreign investment was sufficient for the travel restriction. The Look Out Circular was upheld, the order quashing it was set aside, and the challenge was dismissed.
Judicial review of a Look Out Circular is confined to testing whether the originating authority acted within constitutional and legal limits; it does not permit re-evaluation of that authority's subjective satisfaction that foreign travel would harm India's economic interests. Review may intervene where no material exists, or the material is speculative or so insubstantial that no reasonable authority could rely on it. Material relating to alleged trade-based money laundering, hawala transactions, over-invoiced exports, fraudulent export incentives, bogus purchases, fake invoices and undisclosed foreign investment was sufficient for the travel restriction. The Look Out Circular was upheld, the order quashing it was set aside, and the challenge was dismissed.
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