Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
After insertion of Section 12A(2) and the corresponding amendment to Section 12AA(1), registration for charitable exemption under Sections 11 and 12 operates only from the assessment year immediately following the financial year in which the application is made. The earlier view permitting registration from the date of creation of the institution or another chosen date was displaced, and Section 12A registration was treated as a pre-condition with no independent retrospective effect for exemption claims. The proviso to Section 12A(2) did not apply because no relevant assessment proceedings were pending. The HC therefore set aside the Tribunal's order granting retrospective registration and upheld only prospective registration.
After insertion of Section 12A(2) and the corresponding amendment to Section 12AA(1), registration for charitable exemption under Sections 11 and 12 operates only from the assessment year immediately following the financial year in which the application is made. The earlier view permitting registration from the date of creation of the institution or another chosen date was displaced, and Section 12A registration was treated as a pre-condition with no independent retrospective effect for exemption claims. The proviso to Section 12A(2) did not apply because no relevant assessment proceedings were pending. The HC therefore set aside the Tribunal's order granting retrospective registration and upheld only prospective registration.
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