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...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
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...
Real estate allottees seeking financial creditor status must establish a subsisting financial debt owed by the corporate debtor. Invoking arbitration for refund, accepting and presenting refund cheques, and pursuing remedies for dishonour constitute an election to seek refund rather than continue with allotment. Such conduct precludes simultaneous reliance on continuing allottee status and the deemed commercial effect of borrowing. The Supreme Court ruling concerning an existing allottee with a RERA decree was distinguished because the allottees had themselves pursued refund remedies. Recognition as financial creditors was therefore unavailable, and dismissal of the company appeals followed.
Real estate allottees seeking financial creditor status must establish a subsisting financial debt owed by the corporate debtor. Invoking arbitration for refund, accepting and presenting refund cheques, and pursuing remedies for dishonour constitute an election to seek refund rather than continue with allotment. Such conduct precludes simultaneous reliance on continuing allottee status and the deemed commercial effect of borrowing. The Supreme Court ruling concerning an existing allottee with a RERA decree was distinguished because the allottees had themselves pursued refund remedies. Recognition as financial creditors was therefore unavailable, and dismissal of the company appeals followed.
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