International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
ITAT allowed the appeal of the assessee-society and restored exemption under s.11. It held that the society is engaged in advancement of general public utility and its event-based receipts, being less than 20% of its gross receipts, fall within the tolerance limit under the proviso to s.2(15). Membership fees from associated, student and charter members were held not to be consideration for trade, commerce or business. The AO's conclusion that 48% of income was commercial and that a 22% surplus negated charitable character was rejected, relying on SC precedent. ITAT further found Form 10 had been duly filed, invalidating CIT(A)'s contrary ground.
ITAT allowed the appeal of the assessee-society and restored exemption under s.11. It held that the society is engaged in advancement of general public utility and its event-based receipts, being less than 20% of its gross receipts, fall within the tolerance limit under the proviso to s.2(15). Membership fees from associated, student and charter members were held not to be consideration for trade, commerce or business. The AO's conclusion that 48% of income was commercial and that a 22% surplus negated charitable character was rejected, relying on SC precedent. ITAT further found Form 10 had been duly filed, invalidating CIT(A)'s contrary ground.
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