Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
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...
The case involved a violation of the FEMA Act due to accepting and placing bets on cricket matches for clients. The appellant was linked to the raided premises where incriminating evidence was found. The Appellate Tribunal found the appellant guilty based on evidence, including statements and financial transactions. Penalties were imposed u/s 4 of FEMA and u/s 3(d) of the Act of 1999. The Tribunal reduced the penalties to make them proportionate to the contraventions. The total penalty imposed on the appellant was Rs. 50 lakhs, with Rs. 10 lakhs for u/s 4 and Rs. 40 lakhs for u/s 3(d). The appeal was partly allowed based on the revised penalties.
The case involved a violation of the FEMA Act due to accepting and placing bets on cricket matches for clients. The appellant was linked to the raided premises where incriminating evidence was found. The Appellate Tribunal found the appellant guilty based on evidence, including statements and financial transactions. Penalties were imposed u/s 4 of FEMA and u/s 3(d) of the Act of 1999. The Tribunal reduced the penalties to make them proportionate to the contraventions. The total penalty imposed on the appellant was Rs. 50 lakhs, with Rs. 10 lakhs for u/s 4 and Rs. 40 lakhs for u/s 3(d). The appeal was partly allowed based on the revised penalties.
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