Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
EPCG duty exemption requires strict compliance with the stipulated export obligation. Failure to meet that obligation makes the duty saved and applicable interest recoverable unless a waiver is obtained from the competent EPCG or DGFT authority; flood damage to imported machinery did not establish such waiver. The machinery had been installed but was subsequently submerged and damaged beyond repair. While duty and interest liability for non-fulfilment of export obligation remained enforceable, confiscation, redemption fine and penalties were not sustained in those circumstances. The exemption condition was applied strictly, with the importer bearing the burden of proving entitlement to the exemption.
EPCG duty exemption requires strict compliance with the stipulated export obligation. Failure to meet that obligation makes the duty saved and applicable interest recoverable unless a waiver is obtained from the competent EPCG or DGFT authority; flood damage to imported machinery did not establish such waiver. The machinery had been installed but was subsequently submerged and damaged beyond repair. While duty and interest liability for non-fulfilment of export obligation remained enforceable, confiscation, redemption fine and penalties were not sustained in those circumstances. The exemption condition was applied strictly, with the importer bearing the burden of proving entitlement to the exemption.
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