Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Exemption u/s 11 - Charitable activity u/s 2(15) - Assessee has derived income by way of contributions from the head office, membership fee, income from publication of Indian Foundry journal , other grants and donations etc. besides receiving interest on fixed deposits. - Gross receipt was more than Rs. 10 lakhs - The tribunal set aside the order of the CIT(A) and directed the AO to allow exemptions u/s 11 for the year under consideration, recognizing the assessee's activities as being for general public utility without commercial intent. It allowed the appeal in favor of the assessee on all counts, including the issues of delay in appeal, depreciation claims, treatment of sale proceeds from the fixed asset, and the calculation method for deduction u/s 11(1)(a).
Exemption u/s 11 - Charitable activity u/s 2(15) - Assessee has derived income by way of contributions from the head office, membership fee, income from publication of Indian Foundry journal , other grants and donations etc. besides receiving interest on fixed deposits. - Gross receipt was more than Rs. 10 lakhs - The tribunal set aside the order of the CIT(A) and directed the AO to allow exemptions u/s 11 for the year under consideration, recognizing the assessee's activities as being for general public utility without commercial intent. It allowed the appeal in favor of the assessee on all counts, including the issues of delay in appeal, depreciation claims, treatment of sale proceeds from the fixed asset, and the calculation method for deduction u/s 11(1)(a).
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