Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Primary issue: whether investments made by the charitable trust in a partnership where a trustee had substantial interest breached the prescribed investment modes in section 11(5) and attracted s.13 disqualification. Reasoning: the investment was not in the modes specified by s.11(5) and the recipient was a related party within s.13, thereby invoking s.13(2)(h) which excludes s.11 exemption; the AO erroneously applied law by allowing the deduction despite audit certification and material on record. Outcome: exemption under s.11 disallowed and income taxable at maximum marginal rate; s.263 revision was rightly invoked. - ITAT
Primary issue: whether investments made by the charitable trust in a partnership where a trustee had substantial interest breached the prescribed investment modes in section 11(5) and attracted s.13 disqualification. Reasoning: the investment was not in the modes specified by s.11(5) and the recipient was a related party within s.13, thereby invoking s.13(2)(h) which excludes s.11 exemption; the AO erroneously applied law by allowing the deduction despite audit certification and material on record. Outcome: exemption under s.11 disallowed and income taxable at maximum marginal rate; s.263 revision was rightly invoked. - ITAT
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