Beneficial owner held liable for differential customs duty; royalties added under Rule 10(1)(c); confiscation, penalties under s.111(m), s.114A, s.112...
HC disposed of the writ petitions by holding that exemption under Section 10(23BBA) of the Income-tax Act is confined to bodies or authorities constituted, established or appointed under a Central, State or Provincial enactment. Income directly belonging to temples or other public religious or charitable endowments, even if administered by such statutory bodies, is not per se eligible for this exemption. If the disputed income is that of the administrative body itself, petitioners may claim exemption, subject to satisfaction of statutory conditions, before the competent authorities. The question whether the income pertains to the temple or the administrative body is left to be determined in appropriate proceedings.
HC disposed of the writ petitions by holding that exemption under Section 10(23BBA) of the Income-tax Act is confined to bodies or authorities constituted, established or appointed under a Central, State or Provincial enactment. Income directly belonging to temples or other public religious or charitable endowments, even if administered by such statutory bodies, is not per se eligible for this exemption. If the disputed income is that of the administrative body itself, petitioners may claim exemption, subject to satisfaction of statutory conditions, before the competent authorities. The question whether the income pertains to the temple or the administrative body is left to be determined in appropriate proceedings.
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