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...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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Sanction of composite scheme of amalgamation - The appellants contested the order, arguing that it failed to consider certain clauses of the scheme, particularly regarding separability. They sought approval for part D of the scheme, excluding parts B and C, which had been automatically revoked due to non-approval by relevant shareholders. - The Tribunal examined the issues raised and found that the impugned order did not adequately address the separability of the scheme. It recognized the appellants' argument for separability and the Tribunal's discretion to modify arrangements for proper implementation. - Consequently the Tribunal set aside the impugned order and directed the NCLT to reconsider the application for the second motion, taking into account the observations made.
Sanction of composite scheme of amalgamation - The appellants contested the order, arguing that it failed to consider certain clauses of the scheme, particularly regarding separability. They sought approval for part D of the scheme, excluding parts B and C, which had been automatically revoked due to non-approval by relevant shareholders. - The Tribunal examined the issues raised and found that the impugned order did not adequately address the separability of the scheme. It recognized the appellants' argument for separability and the Tribunal's discretion to modify arrangements for proper implementation. - Consequently the Tribunal set aside the impugned order and directed the NCLT to reconsider the application for the second motion, taking into account the observations made.
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