Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Alternative statutory remedy under GST bars writ challenge where classification, notice variance, and hearing disputes require factual appellate revie...
The Appellate Tribunal addressed the rejection of an application for approval u/s 80G as time-barred. Provisional registration was introduced for newly formed trusts. The Tribunal interpreted the statutory provision to avoid absurdity, holding that the time limit for existing trusts to apply for regular registration is within six months of the expiry of provisional registration. They clarified that the provision "within six months of commencement of activities" applies to trusts not engaged in charitable activities at the time of provisional registration. The Tribunal found the applicant's registration application valid and maintainable as it was submitted within the allowed time. Additionally, since the applicant had applied for permanent registration before the expiry of provisional approval, the application was not time-barred. The appeal of the assessee was allowed.
The Appellate Tribunal addressed the rejection of an application for approval u/s 80G as time-barred. Provisional registration was introduced for newly formed trusts. The Tribunal interpreted the statutory provision to avoid absurdity, holding that the time limit for existing trusts to apply for regular registration is within six months of the expiry of provisional registration. They clarified that the provision "within six months of commencement of activities" applies to trusts not engaged in charitable activities at the time of provisional registration. The Tribunal found the applicant's registration application valid and maintainable as it was submitted within the allowed time. Additionally, since the applicant had applied for permanent registration before the expiry of provisional approval, the application was not time-barred. The appeal of the assessee was allowed.
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TaxTMI 
TaxTMI 
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