Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Transfer of sale proceeds by a registered charitable trust to other charitable societies constitutes application of income for charitable purposes, and such inter trust donations do not justify cancellation or denial of registration under the tax regime. Relying on precedent, the tribunal affirmed that unsupported allegations about the donees do not vitiate donations and the trust's registration remains operative; accordingly, the trust retains entitlement to exemptions under sections governing charitable institutions and the Revenue's appeal was dismissed.
Transfer of sale proceeds by a registered charitable trust to other charitable societies constitutes application of income for charitable purposes, and such inter trust donations do not justify cancellation or denial of registration under the tax regime. Relying on precedent, the tribunal affirmed that unsupported allegations about the donees do not vitiate donations and the trust's registration remains operative; accordingly, the trust retains entitlement to exemptions under sections governing charitable institutions and the Revenue's appeal was dismissed.
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