Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
ITAT ruled on a trust's tax exemption under section 11, addressing multiple key issues: The tribunal held that exemption denial under section 13 should be limited only to the specific income violating provisions, not the entire trust income. The maximum marginal rate shall apply exclusively to the contravened income portion (Rs. 1,80,000), not the complete trust income. Regarding section 69A, impounded unverified documents were deemed insufficient for making unexplained income additions. The tribunal allowed exemption under section 11, permitted depreciation claim as an application of income, and confirmed that the trust could claim either depreciation or capital expenditure application, ensuring statutory compliance while preventing potential administrative overreach.
ITAT ruled on a trust's tax exemption under section 11, addressing multiple key issues: The tribunal held that exemption denial under section 13 should be limited only to the specific income violating provisions, not the entire trust income. The maximum marginal rate shall apply exclusively to the contravened income portion (Rs. 1,80,000), not the complete trust income. Regarding section 69A, impounded unverified documents were deemed insufficient for making unexplained income additions. The tribunal allowed exemption under section 11, permitted depreciation claim as an application of income, and confirmed that the trust could claim either depreciation or capital expenditure application, ensuring statutory compliance while preventing potential administrative overreach.
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