Section 115BBE classification requires a valid deeming-provision basis before special taxation, while the enhanced rate's temporal application remains...
Coercive recovery during GST searches is restrained pending scrutiny, preserving normal business operations and requiring adherence to investigation g...
Section 10(23FB) exemption is available to a venture capital fund registered as a trust where it operates separately auditable contributory schemes; each scheme need not obtain separate SEBI registration, although its private placement memorandum must be submitted. For the associated-company test, trustees' shares count only when held personally, not when held fiduciary on the Fund's behalf, so fiduciary holdings do not count toward the 15% threshold. A valid, uncancelled SEBI registration establishes the fund's statutory status; absent regulatory action over VCF Regulation breaches, the Income-tax Department cannot independently rely on alleged breaches to deny exemption. The Revenue's appeal was dismissed and the exemption sustained.
Section 10(23FB) exemption is available to a venture capital fund registered as a trust where it operates separately auditable contributory schemes; each scheme need not obtain separate SEBI registration, although its private placement memorandum must be submitted. For the associated-company test, trustees' shares count only when held personally, not when held fiduciary on the Fund's behalf, so fiduciary holdings do not count toward the 15% threshold. A valid, uncancelled SEBI registration establishes the fund's statutory status; absent regulatory action over VCF Regulation breaches, the Income-tax Department cannot independently rely on alleged breaches to deny exemption. The Revenue's appeal was dismissed and the exemption sustained.
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