Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Exemption u/s 11 - there was a mistake happened at the time of purchase of the BMW car whereby it got registered in the name of the trustee instead of the assesssee trust although it was purchased by the assessee trust and once the mistake was detected, the steps were initiated to correct the mistake and to transfer the motor car in the name of the assessee trust. - Exemption allowed - AT
Exemption u/s 11 - there was a mistake happened at the time of purchase of the BMW car whereby it got registered in the name of the trustee instead of the assesssee trust although it was purchased by the assessee trust and once the mistake was detected, the steps were initiated to correct the mistake and to transfer the motor car in the name of the assessee trust. - Exemption allowed - AT
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