Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
ITAT held that registration under section 12A(1)(ac)(iii) could not be denied merely because the trust had not carried out substantial activities in the relevant financial years, where the trust deed showed charitable objects and the record included audited accounts, returns, bank statements and donation details supporting genuineness. Applying Ananda Social & Educational Trust, the Tribunal noted that at the registration stage the inquiry is confined to the genuineness of the trust and its activities, and even proposed activities are relevant. The rejection of Form 10AB was therefore unsustainable, the consequential cancellation of provisional registration could not survive, and registration was directed to be granted.
ITAT held that registration under section 12A(1)(ac)(iii) could not be denied merely because the trust had not carried out substantial activities in the relevant financial years, where the trust deed showed charitable objects and the record included audited accounts, returns, bank statements and donation details supporting genuineness. Applying Ananda Social & Educational Trust, the Tribunal noted that at the registration stage the inquiry is confined to the genuineness of the trust and its activities, and even proposed activities are relevant. The rejection of Form 10AB was therefore unsustainable, the consequential cancellation of provisional registration could not survive, and registration was directed to be granted.
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