Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
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Interest earned by a co-operative credit society on deposits of surplus profits may qualify as business income attributable to providing credit facilities to members where the deposits are mandated or permitted by the statute governing the society. This differs from interest on members' surplus receipts, which may be taxable as income from other sources. The deduction claim requires verification of the relevant deposit details and reconsideration in line with the applicable High Court principles. Expenditure disallowance for alleged tax-deduction failures and taxability of miscellaneous interest also require fresh examination where the society asserts non-service of a show-cause notice and seeks to furnish supporting particulars, ensuring an adequate opportunity of hearing.
Interest earned by a co-operative credit society on deposits of surplus profits may qualify as business income attributable to providing credit facilities to members where the deposits are mandated or permitted by the statute governing the society. This differs from interest on members' surplus receipts, which may be taxable as income from other sources. The deduction claim requires verification of the relevant deposit details and reconsideration in line with the applicable High Court principles. Expenditure disallowance for alleged tax-deduction failures and taxability of miscellaneous interest also require fresh examination where the society asserts non-service of a show-cause notice and seeks to furnish supporting particulars, ensuring an adequate opportunity of hearing.
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