Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Statutory housing board functions directed at housing development and general public utility can retain charitable status despite receipts that resemble commercial activity. Charges collected while discharging statutory public functions do not, merely because of their commercial character, trigger the exclusion for trade, commerce or business under section 2(15) read with section 13(8). The housing board therefore remained eligible for income-tax exemption under sections 11 and 12, and the Revenue's challenge to that exemption failed.
Statutory housing board functions directed at housing development and general public utility can retain charitable status despite receipts that resemble commercial activity. Charges collected while discharging statutory public functions do not, merely because of their commercial character, trigger the exclusion for trade, commerce or business under section 2(15) read with section 13(8). The housing board therefore remained eligible for income-tax exemption under sections 11 and 12, and the Revenue's challenge to that exemption failed.
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