De-notification of Customs Area and termination of Container Freight Station custodian and Customs Cargo Service Provider authority effective 07-01-20...
Transition support services from corporate spinoff for India business segment - TP adjustment deleted; comparables reassessed; goodwill depreciation, ...
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The Tribunal held that the assessee's objects fell within protection of environment under section 2(15), not the residuary head of advancement of any other object of general public utility. Accordingly, the proviso to section 2(15) and the 20% commercial-receipt threshold were inapplicable, making denial of registration on that basis legally unsustainable. It further held that deduction of tax at source on receipts did not, by itself, defeat the exemption claim, that filing return in ITR-6 was explainable because the assessee was not registered at that time, and that filing under a wrong limb was only a bona fide technical error requiring verification. Registration under section 12A was accepted subject to verification of the technical objection.
The Tribunal held that the assessee's objects fell within protection of environment under section 2(15), not the residuary head of advancement of any other object of general public utility. Accordingly, the proviso to section 2(15) and the 20% commercial-receipt threshold were inapplicable, making denial of registration on that basis legally unsustainable. It further held that deduction of tax at source on receipts did not, by itself, defeat the exemption claim, that filing return in ITR-6 was explainable because the assessee was not registered at that time, and that filing under a wrong limb was only a bona fide technical error requiring verification. Registration under section 12A was accepted subject to verification of the technical objection.
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