Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
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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