Educational approval requires mandatory State registration, but incidental surplus and trustee-owned land do not prove private benefit or profit motiv...
Judicial review of settlement orders cannot reopen settled customs notices, while statutory interest remains subject to verification and quantificatio...
Customs Broker licence lending for consideration justified revocation where exporter authorisation and client verification obligations were also breac...
Directly relevant additional evidence supporting commission paid to daily deposit collection agents was admitted because the lower authorities had not examined it, and the commission disallowance was remanded for fresh consideration. Interest estimated on non-performing loans to members was deleted because income from credit facilities provided by a co-operative society to its members qualified for deduction under section 80P(2)(a)(i), rendering the addition revenue neutral. Interest estimated by applying a uniform rate across housing, mortgage, personal, deposit-backed and overdraft loans was also deleted because those loan categories carried differential rates and the resulting enhanced income would qualify for the same deduction. The appeal was partly allowed.
Directly relevant additional evidence supporting commission paid to daily deposit collection agents was admitted because the lower authorities had not examined it, and the commission disallowance was remanded for fresh consideration. Interest estimated on non-performing loans to members was deleted because income from credit facilities provided by a co-operative society to its members qualified for deduction under section 80P(2)(a)(i), rendering the addition revenue neutral. Interest estimated by applying a uniform rate across housing, mortgage, personal, deposit-backed and overdraft loans was also deleted because those loan categories carried differential rates and the resulting enhanced income would qualify for the same deduction. The appeal was partly allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
