Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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Exemption u/s 11 and 12 - charitable activity u/s 2(15) - total receipts from trade, commerce or business/service exceeded 20% of total receipts - The ITAT, referencing the Supreme Court's judgment in the case of CIT vs. AUDA & others, held that the assessee's activities were in the nature of advancement of general public utility and were not commercial. Thus, it was eligible for exemption under sections 11 & 12 of the Act. The Tribunal rejected the Revenue's appeal, emphasizing that activities carried out by statutory bodies for public utility, even if they generate income, do not constitute commercial activities if they are within the bounds of the specified statutory framework and aim.
Exemption u/s 11 and 12 - charitable activity u/s 2(15) - total receipts from trade, commerce or business/service exceeded 20% of total receipts - The ITAT, referencing the Supreme Court's judgment in the case of CIT vs. AUDA & others, held that the assessee's activities were in the nature of advancement of general public utility and were not commercial. Thus, it was eligible for exemption under sections 11 & 12 of the Act. The Tribunal rejected the Revenue's appeal, emphasizing that activities carried out by statutory bodies for public utility, even if they generate income, do not constitute commercial activities if they are within the bounds of the specified statutory framework and aim.
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