CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
ITAT allowed the assessee-trust's appeal, holding that an additional legal claim for exemption u/s 10(23C)(iiiad) can validly be raised for the first time in appellate proceedings, and that CIT(A) had misapplied the ratio of Goetze (India) Ltd. ITAT ruled that registration of the trust is not a precondition for exemption where receipts from educational activities do not exceed Rs. 1 crore, in line with s.10(23C)(iiiad). Consequently, the order of CIT(A) was set aside and AO was directed to delete the addition. In view of allowing the main exemption claim, ITAT found it unnecessary to adjudicate the alternative plea regarding taxation of net income instead of gross receipts.
ITAT allowed the assessee-trust's appeal, holding that an additional legal claim for exemption u/s 10(23C)(iiiad) can validly be raised for the first time in appellate proceedings, and that CIT(A) had misapplied the ratio of Goetze (India) Ltd. ITAT ruled that registration of the trust is not a precondition for exemption where receipts from educational activities do not exceed Rs. 1 crore, in line with s.10(23C)(iiiad). Consequently, the order of CIT(A) was set aside and AO was directed to delete the addition. In view of allowing the main exemption claim, ITAT found it unnecessary to adjudicate the alternative plea regarding taxation of net income instead of gross receipts.
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