Faceless assessment and registration procedures are updated through electronic communication, revised recovery rules, extended deadlines, and replacem...
Risk-based selective vessel boarding requires accurate declarations and preserves master and agent liability where physical inspections are not select...
Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Exemption u/s 11 - Profit motive - commercial activities as hit by the proviso to Sec. 2(15) - The majority of rent received by the assessee include rental from marriage functions and rent earned from other events like cultural, spiritual and educational seminars etc. It is nowhere the findings that the assessee has not adhered to the conditions as applicable to a charitable trust or any of the objects of the assessee are profit-motive. Under these circumstances, it could not be concluded that the assessee carried out separate commercial activities and it was hit by the proviso to Sec. 2(15). - AT
Exemption u/s 11 - Profit motive - commercial activities as hit by the proviso to Sec. 2(15) - The majority of rent received by the assessee include rental from marriage functions and rent earned from other events like cultural, spiritual and educational seminars etc. It is nowhere the findings that the assessee has not adhered to the conditions as applicable to a charitable trust or any of the objects of the assessee are profit-motive. Under these circumstances, it could not be concluded that the assessee carried out separate commercial activities and it was hit by the proviso to Sec. 2(15). - AT
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TaxTMI 
TaxTMI 
