Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The Central Government notified the Karnataka State Pollution Control Board for income tax exemption under section 10(46) of the Income-tax Act, 1961 through Notification No. 71/2025. The exemption covers specified income including consent fees, water and air analysis charges, environmental compensation fees, grants from government agencies, interest income, and miscellaneous income related to pollution control activities. The exemption is conditional upon the Board not engaging in commercial activities, maintaining unchanged activities and income nature, and filing returns under section 139(4C)(g). The notification applies retrospectively to assessment years 2024-25 to 2025-26 and prospectively to assessment years 2026-27 to 2028-29, with the government certifying no adverse impact from retrospective application.
The Central Government notified the Karnataka State Pollution Control Board for income tax exemption under section 10(46) of the Income-tax Act, 1961 through Notification No. 71/2025. The exemption covers specified income including consent fees, water and air analysis charges, environmental compensation fees, grants from government agencies, interest income, and miscellaneous income related to pollution control activities. The exemption is conditional upon the Board not engaging in commercial activities, maintaining unchanged activities and income nature, and filing returns under section 139(4C)(g). The notification applies retrospectively to assessment years 2024-25 to 2025-26 and prospectively to assessment years 2026-27 to 2028-29, with the government certifying no adverse impact from retrospective application.
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