Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Benefit of exemption u/s 11 -assessee is holder of shares in violation of provisions of section 13(1)(d) - it is only the income from such investment or deposit which has been made in violation of section 11(5) that is liable to be taxed and violation u/s 13(1)(d) does not result in the denial of exemption u/s 11 to the total income of the assessee trust - AT
Benefit of exemption u/s 11 -assessee is holder of shares in violation of provisions of section 13(1)(d) - it is only the income from such investment or deposit which has been made in violation of section 11(5) that is liable to be taxed and violation u/s 13(1)(d) does not result in the denial of exemption u/s 11 to the total income of the assessee trust - AT
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