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...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Liability to pay interest upon finalization of provisional assessment prior to insertion of sub-section (3) in Section 18 of the Customs Act, 1962 - The CESTAT analyzed Section 18(3) of the Customs Act, which imposes interest liability on the importer or exporter upon final assessment order. However, this provision was inserted after the provisional assessment in question.The Tribunal cited legal principles stating that legislation is prospective unless expressly made retrospective. Previous cases and statutory interpretations affirmed this principle.It was concluded that the amendment to Section 18 was substantive and not clarificatory, thus lacking retrospective applicability.
Liability to pay interest upon finalization of provisional assessment prior to insertion of sub-section (3) in Section 18 of the Customs Act, 1962 - The CESTAT analyzed Section 18(3) of the Customs Act, which imposes interest liability on the importer or exporter upon final assessment order. However, this provision was inserted after the provisional assessment in question.The Tribunal cited legal principles stating that legislation is prospective unless expressly made retrospective. Previous cases and statutory interpretations affirmed this principle.It was concluded that the amendment to Section 18 was substantive and not clarificatory, thus lacking retrospective applicability.
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