Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
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The ITAT Delhi assessed a charitable trust's expenses, including payments to a sister entity for business support services and commission to consultants. The AO disallowed expenses under section 13(3) of the Income Tax Act, alleging violation of conditions under section 13(2)(g). However, the trust demonstrated that the expenses were justified and commensurate with market value. Disallowance of faculty salary due to lack of qualifications was unfounded as the trust employed qualified individuals. Payment of commission and expenses on computers to students were deemed reasonable based on evidence provided. The tribunal found the AO's orders unsustainable and not legally sound.
The ITAT Delhi assessed a charitable trust's expenses, including payments to a sister entity for business support services and commission to consultants. The AO disallowed expenses under section 13(3) of the Income Tax Act, alleging violation of conditions under section 13(2)(g). However, the trust demonstrated that the expenses were justified and commensurate with market value. Disallowance of faculty salary due to lack of qualifications was unfounded as the trust employed qualified individuals. Payment of commission and expenses on computers to students were deemed reasonable based on evidence provided. The tribunal found the AO's orders unsustainable and not legally sound.
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