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...
The Supreme Court considered a case involving condonation of delay in filing an appeal. The appellants filed the appeal after SEBI had already appealed to the Court against the Securities Appellate Tribunal's order. The Court noted that the appellants succeeded on one issue but a remand order was issued on another issue to the Whole Time Member by SAT. The appellants stated that they had complied with the requirement to file submissions but no hearing took place before the Whole Time Member. Given the situation and the appeal filed by SEBI, the Court decided to condone the delay and issued notice in the matter.
The Supreme Court considered a case involving condonation of delay in filing an appeal. The appellants filed the appeal after SEBI had already appealed to the Court against the Securities Appellate Tribunal's order. The Court noted that the appellants succeeded on one issue but a remand order was issued on another issue to the Whole Time Member by SAT. The appellants stated that they had complied with the requirement to file submissions but no hearing took place before the Whole Time Member. Given the situation and the appeal filed by SEBI, the Court decided to condone the delay and issued notice in the matter.
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