Authority rules B+G+31 service apartment is commercial building construction, not multi-storey residential for tax classification under RERA definitio...
Resale price method upheld for distribution; assessee's margins accepted and certain transfer-pricing adjustments deleted due to documented reimbursem...
Page of 4826
Press 'Enter' after typing page number.
9821 to 9840 of 96510 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The ITAT allowed the appeal of the anonymized assessee, holding that the AO erred in applying the Maximum Marginal Rate with higher surcharge where the charitable trust/AOP had not sought exemption relief. The Tribunal found the appellant to be a registered charitable trust and a public body, rejecting the premise that beneficiaries were individual members whose shares warranted MMR treatment. The Tribunal further held that lower authorities misconstrued applicable law and were bound by the Board's clarificatory circular, precluding imposition of the flat maximum rate in these circumstances. The assessment under the MMR and enhanced surcharge was set aside and the appeal was allowed.
The ITAT allowed the appeal of the anonymized assessee, holding that the AO erred in applying the Maximum Marginal Rate with higher surcharge where the charitable trust/AOP had not sought exemption relief. The Tribunal found the appellant to be a registered charitable trust and a public body, rejecting the premise that beneficiaries were individual members whose shares warranted MMR treatment. The Tribunal further held that lower authorities misconstrued applicable law and were bound by the Board's clarificatory circular, precluding imposition of the flat maximum rate in these circumstances. The assessment under the MMR and enhanced surcharge was set aside and the appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
