Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Royalty and sponsorship receipts received by a sports federation were held to be incidental to its charitable objects and not indicative of any business activity or profit motive. As the facts for the year matched the assessee's earlier case, the Tribunal followed that precedent and held that the proviso to section 2(15) did not apply. Exemption under sections 11 and 12 was therefore sustained, the Revenue's challenge failed, and the assessee's cross-objection was dismissed as infructuous.
Royalty and sponsorship receipts received by a sports federation were held to be incidental to its charitable objects and not indicative of any business activity or profit motive. As the facts for the year matched the assessee's earlier case, the Tribunal followed that precedent and held that the proviso to section 2(15) did not apply. Exemption under sections 11 and 12 was therefore sustained, the Revenue's challenge failed, and the assessee's cross-objection was dismissed as infructuous.
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