Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
Commission income earned for collecting bills, dues and charges on behalf of a public utility is treated as akin to banking activity and, being incidental to the society's main objects, qualifies for the cooperative-society deduction under the relevant 80P provision; accordingly the claim for deduction in respect of commission received from the public utility was allowed and the appeal permitted. The note emphasises applicability of prior Tribunal precedent equating collection-of-dues activity with banking activity as determinative of entitlement.
Commission income earned for collecting bills, dues and charges on behalf of a public utility is treated as akin to banking activity and, being incidental to the society's main objects, qualifies for the cooperative-society deduction under the relevant 80P provision; accordingly the claim for deduction in respect of commission received from the public utility was allowed and the appeal permitted. The note emphasises applicability of prior Tribunal precedent equating collection-of-dues activity with banking activity as determinative of entitlement.
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