Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Charitable purpose is not defeated where sponsorship receipts from a women's marathon have a real and proximate nexus with objects of women's health, fitness, awareness and empowerment. The proviso to section 2(15) requires proof that the recipient's activity intrinsically operates as trade, commerce or business; sponsors' advertising treatment, receipt magnitude or surplus alone is insufficient. The 20% receipts formulation did not apply for the relevant assessment year, and exceeding the applicable monetary threshold could not replace that proof. Consequently, section 13(8) could not deny exemption under sections 11 and 12. Form No. 10B furnished during assessment cured an erroneous original exemption form where audit was completed before return filing and eligibility was examined on merits; the lapse was procedural.
Charitable purpose is not defeated where sponsorship receipts from a women's marathon have a real and proximate nexus with objects of women's health, fitness, awareness and empowerment. The proviso to section 2(15) requires proof that the recipient's activity intrinsically operates as trade, commerce or business; sponsors' advertising treatment, receipt magnitude or surplus alone is insufficient. The 20% receipts formulation did not apply for the relevant assessment year, and exceeding the applicable monetary threshold could not replace that proof. Consequently, section 13(8) could not deny exemption under sections 11 and 12. Form No. 10B furnished during assessment cured an erroneous original exemption form where audit was completed before return filing and eligibility was examined on merits; the lapse was procedural.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
