Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Section 167B, which applies the maximum marginal rate where beneficiaries' shares are indeterminate, does not apply to public charitable trusts or organisations. Their income is chargeable at normal rates notwithstanding uncertainty regarding beneficiaries' shares. Application of this principle requires verification of the trust deed, rectification application, return of income and original assessment order. Following verification, the tax liability should be computed at normal rates and consequential relief granted where due.
Section 167B, which applies the maximum marginal rate where beneficiaries' shares are indeterminate, does not apply to public charitable trusts or organisations. Their income is chargeable at normal rates notwithstanding uncertainty regarding beneficiaries' shares. Application of this principle requires verification of the trust deed, rectification application, return of income and original assessment order. Following verification, the tax liability should be computed at normal rates and consequential relief granted where due.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
