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Internal CUP benchmarking for fixed-rate Masala Bonds prevails over floating external comparables, eliminating the related transfer-pricing adjustment...
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Section 12AB cancellation requires cogent material showing that...
Charitable registration cancellation requires proof that educational activities abandoned their objects; incidental receipts and retained surplus are insufficient.
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Section 12AB cancellation requires cogent material showing that charitable activities are not genuine, depart from stated objects, or meet another specified statutory ground. Deficiencies concerning expenditure, application of income, investments or compliance with other laws ordinarily belong in assessment proceedings unless they establish abandonment of charitable purposes. Incidental examination and mobile-tower receipts, educational surplus retained for infrastructure, an unregistered lease, and family management without prohibited private benefit do not alone establish profiteering or specified violations. Registration was restored, and the consequential Form 10AB rejection, based solely on cancellation, was reversed with a direction to grant appropriate registration.
Section 12AB cancellation requires cogent material showing that charitable activities are not genuine, depart from stated objects, or meet another specified statutory ground. Deficiencies concerning expenditure, application of income, investments or compliance with other laws ordinarily belong in assessment proceedings unless they establish abandonment of charitable purposes. Incidental examination and mobile-tower receipts, educational surplus retained for infrastructure, an unregistered lease, and family management without prohibited private benefit do not alone establish profiteering or specified violations. Registration was restored, and the consequential Form 10AB rejection, based solely on cancellation, was reversed with a direction to grant appropriate registration.
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