Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
The assessee claimed the entire cash amount recovered from two lockers as business income, not subject to tax u/s 115BBE. The Tribunal held that since the cash from one locker was recorded in books and the source of income from the other locker was not disputed, both amounts should be treated as business income under normal provisions, not taxed u/s 69A read with Section 115BBE dealing with unexplained cash credits. The application of Section 115BBE was found to be not legal in this case.
The assessee claimed the entire cash amount recovered from two lockers as business income, not subject to tax u/s 115BBE. The Tribunal held that since the cash from one locker was recorded in books and the source of income from the other locker was not disputed, both amounts should be treated as business income under normal provisions, not taxed u/s 69A read with Section 115BBE dealing with unexplained cash credits. The application of Section 115BBE was found to be not legal in this case.
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