Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
A public charitable trust is treated as irrevocable by operation of law unless the trust deed expressly reserves a power of revocation, so the absence of an explicit irrevocability or dissolution clause cannot by itself justify denial of registration or renewal under section 12AB. The Tribunal also held that answering "Yes" in row 6 of Form 10AB, despite the absence of such a clause, is not false or incorrect information and does not amount to a specified violation under Explanation (g) to section 12AB(4). As the section 12AB rejection could not stand, the consequential refusal of approval under section 80G also failed and both rejections were set aside.
A public charitable trust is treated as irrevocable by operation of law unless the trust deed expressly reserves a power of revocation, so the absence of an explicit irrevocability or dissolution clause cannot by itself justify denial of registration or renewal under section 12AB. The Tribunal also held that answering "Yes" in row 6 of Form 10AB, despite the absence of such a clause, is not false or incorrect information and does not amount to a specified violation under Explanation (g) to section 12AB(4). As the section 12AB rejection could not stand, the consequential refusal of approval under section 80G also failed and both rejections were set aside.
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