Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
The case pertains to the denial of exemption u/s 11 due to excessive payments made on account of salary and rent to persons specified u/s 13(3). The Assessing Officer (AO) had disallowed the payments made to specified persons. However, upon examination, it was found that the rent paid by the assessee was lower than the prevailing market rates in the same area paid by unrelated parties. The AO had relied on an agreement for a different premise in the same locality, leading to an appreciation of wrong facts. Consequently, the Appellate Tribunal (ITAT) held that the impugned payments were not excessive or unreasonable, deciding the case in favor of the assessee.
The case pertains to the denial of exemption u/s 11 due to excessive payments made on account of salary and rent to persons specified u/s 13(3). The Assessing Officer (AO) had disallowed the payments made to specified persons. However, upon examination, it was found that the rent paid by the assessee was lower than the prevailing market rates in the same area paid by unrelated parties. The AO had relied on an agreement for a different premise in the same locality, leading to an appreciation of wrong facts. Consequently, the Appellate Tribunal (ITAT) held that the impugned payments were not excessive or unreasonable, deciding the case in favor of the assessee.
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