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...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Exemption u/s 11 - assessment of trust - accumulation of income - The AO and CIT(A) disallowed this accumulation, arguing that it was not for a specific purpose and was merely a reiteration of the trust's broad objectives. - The tribunal held that, the accumulation of income by the trust for its stated purposes was in line with the objectives of the trust and thus allowed the accumulation under section 11(2) of the Act.
Exemption u/s 11 - assessment of trust - accumulation of income - The AO and CIT(A) disallowed this accumulation, arguing that it was not for a specific purpose and was merely a reiteration of the trust's broad objectives. - The tribunal held that, the accumulation of income by the trust for its stated purposes was in line with the objectives of the trust and thus allowed the accumulation under section 11(2) of the Act.
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