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...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
The Appellate Tribunal addressed the issue of non-grant of registration u/s 12AB from the assessment year 2021-22 due to an amendment to Clause (ac) of section 12A(1) by TOLA. The Tribunal found that the trust had applied for fresh registration in Form 10A as required by the amended law. It criticized the decision of the PCIT/CIT for granting registration only from 2022-23 to 2026-27 instead of from 2021-22 onwards. The Tribunal held that the assessee was entitled to registration from 2021-22, overturned the previous decision, and instructed the PCIT/CIT to grant registration from the said year. The appeal by the assessee was allowed for statistical purposes.
The Appellate Tribunal addressed the issue of non-grant of registration u/s 12AB from the assessment year 2021-22 due to an amendment to Clause (ac) of section 12A(1) by TOLA. The Tribunal found that the trust had applied for fresh registration in Form 10A as required by the amended law. It criticized the decision of the PCIT/CIT for granting registration only from 2022-23 to 2026-27 instead of from 2021-22 onwards. The Tribunal held that the assessee was entitled to registration from 2021-22, overturned the previous decision, and instructed the PCIT/CIT to grant registration from the said year. The appeal by the assessee was allowed for statistical purposes.
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