Rental income valuation requires credible local comparables; family-business salary and commercially expedient unsecured-loan interest remained deduct...
Strict construction of customs exemptions denied concession for brake components, while limitation restricted differential duty to timely Bills of Ent...
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Section 13(1)(b)'s restriction on trusts benefiting a particular religious community applies when exemption under section 11 is considered, rather than at the section 12A registration stage. A trust whose objects are largely charitable and directed to the public at large is not disqualified merely because its objects include services to pilgrims and religious places. Where the trust is not established wholly for a particular religious community, its application for approval under section 80G(5) requires fresh consideration after verification and an opportunity of hearing. No substantial question of law arose from the Tribunal's direction for such reconsideration.
Section 13(1)(b)'s restriction on trusts benefiting a particular religious community applies when exemption under section 11 is considered, rather than at the section 12A registration stage. A trust whose objects are largely charitable and directed to the public at large is not disqualified merely because its objects include services to pilgrims and religious places. Where the trust is not established wholly for a particular religious community, its application for approval under section 80G(5) requires fresh consideration after verification and an opportunity of hearing. No substantial question of law arose from the Tribunal's direction for such reconsideration.
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