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...
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Registration under s.12AA was denied because the applicant's stated objects and actual activities were predominantly software development and start-up consultancy, which did not fall within any limb of "charitable purpose" under s.2(15). The authority further held that the applicant's dominant financing from a commercial entity, linked to strategic advisory arrangements, did not constitute income eligible for exemption under ss.11-12, as the receipts were in substance consideration for commercial services. In the absence of any material rebutting these findings, the denial of registration was upheld and the appeal was dismissed - ITAT
Registration under s.12AA was denied because the applicant's stated objects and actual activities were predominantly software development and start-up consultancy, which did not fall within any limb of "charitable purpose" under s.2(15). The authority further held that the applicant's dominant financing from a commercial entity, linked to strategic advisory arrangements, did not constitute income eligible for exemption under ss.11-12, as the receipts were in substance consideration for commercial services. In the absence of any material rebutting these findings, the denial of registration was upheld and the appeal was dismissed - ITAT
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