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...
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Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Attachment of Properties - The Custodian sought to recover significant sums from different individuals or entities, claiming they were indebted to the notified party. - The Special Court directed the appellant to pay a sum of Rs. 50 lakhs with Interest - diversion of funds from the banks/FIs to the individual accounts of certain brokers - The Supreme Court addressed several key issues arising from the appeals under the Act of 1992, including the notification of individuals, recovery of dues, and the burden of proof. It clarified that property attachment under the Act occurs from the date of notification forward, not retroactively. The SC found it insufficient to establish the appellants' liabilities. Moreover, it emphasized the Custodian's responsibility to prove the debts before shifting the burden onto the appellants. Consequently, the Court ruled in favor of the appellants, quashing the judgments and allowing the appeals.
Attachment of Properties - The Custodian sought to recover significant sums from different individuals or entities, claiming they were indebted to the notified party. - The Special Court directed the appellant to pay a sum of Rs. 50 lakhs with Interest - diversion of funds from the banks/FIs to the individual accounts of certain brokers - The Supreme Court addressed several key issues arising from the appeals under the Act of 1992, including the notification of individuals, recovery of dues, and the burden of proof. It clarified that property attachment under the Act occurs from the date of notification forward, not retroactively. The SC found it insufficient to establish the appellants' liabilities. Moreover, it emphasized the Custodian's responsibility to prove the debts before shifting the burden onto the appellants. Consequently, the Court ruled in favor of the appellants, quashing the judgments and allowing the appeals.
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