Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Exemption u/s 11 - hundi receipts embedded with specific purpose of corpus donation u/s. 11(1)(d) - The foregoing legal maxim also does not apply here. The clinching fact that emerges here is that assessee's 'hundi' receipts in cash from donors are not revenue items but capital receipts only. The relevant provisions of the 'Endowment Act' duly makes it clear that they are corpus donations which nowhere go against the provisions of tax law. - AT
Exemption u/s 11 - hundi receipts embedded with specific purpose of corpus donation u/s. 11(1)(d) - The foregoing legal maxim also does not apply here. The clinching fact that emerges here is that assessee's 'hundi' receipts in cash from donors are not revenue items but capital receipts only. The relevant provisions of the 'Endowment Act' duly makes it clear that they are corpus donations which nowhere go against the provisions of tax law. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
