Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
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ITAT addressed exemption under Section 11 for a public charitable trust. The tribunal examined whether sale of devotional articles constitutes a business activity disqualifying tax exemption. Despite revenue's argument that surplus income from sales negates exemption, ITAT found the trust's primary activities remained charitable, including feeding poor, providing education, and medical relief. The tribunal noted majority of income derived from donations and interest. Referencing SC precedent, ITAT determined sales at nominal cost do not automatically transform charitable activities into business. Administrative expenses and overall charitable objectives were considered. CIT(A)'s original exemption was upheld, and revenue's appeal was dismissed.
ITAT addressed exemption under Section 11 for a public charitable trust. The tribunal examined whether sale of devotional articles constitutes a business activity disqualifying tax exemption. Despite revenue's argument that surplus income from sales negates exemption, ITAT found the trust's primary activities remained charitable, including feeding poor, providing education, and medical relief. The tribunal noted majority of income derived from donations and interest. Referencing SC precedent, ITAT determined sales at nominal cost do not automatically transform charitable activities into business. Administrative expenses and overall charitable objectives were considered. CIT(A)'s original exemption was upheld, and revenue's appeal was dismissed.
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