Limitation in customs appeals permits exclusion for bona fide refund proceedings, enabling restoration of Bill of Entry assessment challenges on merit...
Warehousing permission requires deposit at the designated bonded warehouse; unauthorised diversion triggers confiscation, redemption fine and importer...
Where an assessee permits its bank account and charitable status to be used for routing funds and claims exemption under sections 11 and 12 on that basis, it cannot avoid taxability by describing itself as a mere conduit. The Tribunal found that the assessee was a party to the arrangement by which donations were routed through its account and shown as application for educational purposes, while the funds were effectively taken back by the beneficiary group. The reliance on an earlier pass-through case was held distinguishable. The addition was upheld in the assessee's hands, the plea that only the ultimate beneficiary could be taxed was rejected, and the appeal was dismissed.
Where an assessee permits its bank account and charitable status to be used for routing funds and claims exemption under sections 11 and 12 on that basis, it cannot avoid taxability by describing itself as a mere conduit. The Tribunal found that the assessee was a party to the arrangement by which donations were routed through its account and shown as application for educational purposes, while the funds were effectively taken back by the beneficiary group. The reliance on an earlier pass-through case was held distinguishable. The addition was upheld in the assessee's hands, the plea that only the ultimate beneficiary could be taxed was rejected, and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
