Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
The Appellate Tribunal addressed the issue of non-granting permanent registration u/s 12AB. The CIT (Exemption) rejected the application as premature since the assessee had provisional registration valid until AY 2026-27. The Tribunal noted the assessee's status as a charitable Trust registered u/s 12AA and the requirement for provisional and final registration post Finance Bill 2020. The Tribunal held that applying for final registration before the provisional registration expiry is permissible. The decision reversed the CIT's ruling, instructing reconsideration of the final registration application based on Act provisions. All grounds of appeal by the assessee were allowed for statistical purposes.
The Appellate Tribunal addressed the issue of non-granting permanent registration u/s 12AB. The CIT (Exemption) rejected the application as premature since the assessee had provisional registration valid until AY 2026-27. The Tribunal noted the assessee's status as a charitable Trust registered u/s 12AA and the requirement for provisional and final registration post Finance Bill 2020. The Tribunal held that applying for final registration before the provisional registration expiry is permissible. The decision reversed the CIT's ruling, instructing reconsideration of the final registration application based on Act provisions. All grounds of appeal by the assessee were allowed for statistical purposes.
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