Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Where tax is collected under a levy later struck down as unconstitutional, the claim for return of the amount is not governed by the ordinary refund limitations in Sections 54 and 56. The Court treated the money as wrongfully retained by the State and rejected the revenue's objection based on the statutory refund scheme. It further held that interest is compensatory and payable for the period during which the taxpayer was deprived of the use of the money. Interest was therefore directed at 6% per annum from the date of deposit until the date of refund, and the order denying interest was set aside.
Where tax is collected under a levy later struck down as unconstitutional, the claim for return of the amount is not governed by the ordinary refund limitations in Sections 54 and 56. The Court treated the money as wrongfully retained by the State and rejected the revenue's objection based on the statutory refund scheme. It further held that interest is compensatory and payable for the period during which the taxpayer was deprived of the use of the money. Interest was therefore directed at 6% per annum from the date of deposit until the date of refund, and the order denying interest was set aside.
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