Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Charitable institution invested funds in shares of joint venture companies, violating Section 13(1)(d). Exemption u/s 11 denied for income from such investment. However, only income from violative investment liable to tax, not entire income. Legislature did not intend denial of Section 11 exemption for entire income. View supported by Bombay and Delhi High Court judgments. Investment by assessee in joint venture companies constituted investment in violation of Section 13(1)(d), disentitling exemption u/s 11 for income from such investment only.
Charitable institution invested funds in shares of joint venture companies, violating Section 13(1)(d). Exemption u/s 11 denied for income from such investment. However, only income from violative investment liable to tax, not entire income. Legislature did not intend denial of Section 11 exemption for entire income. View supported by Bombay and Delhi High Court judgments. Investment by assessee in joint venture companies constituted investment in violation of Section 13(1)(d), disentitling exemption u/s 11 for income from such investment only.
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