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 - charitable activity u/s 2(15) - Mere registration of u/s. 12A of the Act may not entitle the assessee to claim exemption. At the best, registration u/s. 12A of the Act is only to identify the entity. The assessee apart from registration u/s. 12A has to establish that it is engaged in the charitable activity.
Exemption u/s. 11 - charitable activity u/s 2(15) - Mere registration of u/s. 12A of the Act may not entitle the assessee to claim exemption. At the best, registration u/s. 12A of the Act is only to identify the entity. The assessee apart from registration u/s. 12A has to establish that it is engaged in the charitable activity.
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