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 - trustees have used property then trust - violation of provision of Section 13(1)(c) and 13 (1)(d) - The residential premises of the assessee trust are applied for the benefit of the specified persons. Therefore, the learned Assessing Officer is direct to determine the part of such income or property of the trust on which it loses the exemption. - AT
Exemption u/s 11 - trustees have used property then trust - violation of provision of Section 13(1)(c) and 13 (1)(d) - The residential premises of the assessee trust are applied for the benefit of the specified persons. Therefore, the learned Assessing Officer is direct to determine the part of such income or property of the trust on which it loses the exemption. - AT
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