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...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Exemption under section 11 was sustained because the assessee's letting of an auditorium was held to be merely incidental to its dominant charitable objects of education and medical relief, undertaken to augment funds. The Tribunal followed its decision in the assessee's own earlier year on identical facts and found that the activity did not amount to carrying on business, so the proviso to section 2(15) was not attracted. The Commissioner (Appeals)'s grant of relief under section 11 therefore required no interference, and the exemption was upheld for both assessment years.
Exemption under section 11 was sustained because the assessee's letting of an auditorium was held to be merely incidental to its dominant charitable objects of education and medical relief, undertaken to augment funds. The Tribunal followed its decision in the assessee's own earlier year on identical facts and found that the activity did not amount to carrying on business, so the proviso to section 2(15) was not attracted. The Commissioner (Appeals)'s grant of relief under section 11 therefore required no interference, and the exemption was upheld for both assessment years.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
