Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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HC upheld the ITAT's decision classifying the Trust as an Association of Persons (AOP), thereby disallowing interest paid to beneficiaries u/s 40(b). The AO found beneficiaries voluntarily pooled funds with clear intent to undertake project work and generate profits. The trust's self-declaration as an AOP and failure to rectify this status substantiated the classification. The court determined the findings were not perverse and the lower authorities' orders were legally justified, maintaining the disallowance of interest payments to beneficiaries.
HC upheld the ITAT's decision classifying the Trust as an Association of Persons (AOP), thereby disallowing interest paid to beneficiaries u/s 40(b). The AO found beneficiaries voluntarily pooled funds with clear intent to undertake project work and generate profits. The trust's self-declaration as an AOP and failure to rectify this status substantiated the classification. The court determined the findings were not perverse and the lower authorities' orders were legally justified, maintaining the disallowance of interest payments to beneficiaries.
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