Exemption under Section 11 remains available to a registered charitable trust where its return is filed within the extended period under Section 139(4) and Form 10B is furnished during appellate proceedings, even if the form follows processing under Section 143(1). The audit-report requirement under Section 12A(1)(b) permits condonation of delayed electronic filing in these circumstances. A balanced, equitable and judicious approach applies; strict compliance does not justify rejecting the exemption merely because Form 10B was not filed before return processing. The delayed filing is condoned, requiring the exemption claim to be allowed.

GOVERNMENT OF GOA Department of Finance Office of the Commissioner of Commercial Taxes No. CCT/26-4/2017-18/E/1872 Panaji, 26th October, 2021. Circular (No. 12/2021-22-GST) Subject: -reg. Representations have been received citing ambiguity caused in interpretation of the scope of "Intermediary services" in the GST Law. The matter has been examined. In view of the difficulties being faced by the trade and industry and to ensure uniformity in the implementation of the provi... ... ...

This is a neutral professional article. The judgment is analysed in the context of its factual background, issues framed, and conclusions reached by the Court. 2026 (7) TMI 783 - ITAT MUMBAI At a Glance • Section 2(15) treats "medical relief" as an independently enumerated charitable purpose. The statutory restriction concerning trade, commerce or business is textually attached to the residual category of advancement of any other object of general public utility. • For re... ... ...

SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM For the Assessee : None For the Revenue : Shri Ashok Kumar Ambastha ORDER Per Kavitha Rajagopal, J M: This appeal has been filed by the assessee, challenging the order of the learned Commissioner of Income Tax (Appeals) ('ld.CIT(A) for short), National Faceless Appeal Centre ('NFAC' for short) passed u/s.250 of the Income Tax Act, 1961 ('the Act'), pertaining to the Assessment Year ('A.Y.' for short) 2020-21. 2. The ... ... ...

Disallowance of expenditure relating to exempt income requires a proximate nexus with that income; use of Rule 8D further requires recorded, objective dissatisfaction with the taxpayer's accounts. Foreign agency commission does not attract withholding tax or related disallowance where it is not chargeable to tax in India. A UPS forming part of a computer system qualifies for depreciation at the rate applicable to computer equipment. Demurrage reimbursed to a foreign buyer for delayed loading is compensation connected with export purchases rather than income deemed to arise in India; where the special shipping-income regime applies, withholding provisions for contractual and foreign payments do not govern such demurrage.

GST liability for a works contractor is governed by statute, while reimbursement of incremental GST from an employer depends on the contract's allocation of tax risk. An inclusive-tax clause must be read with change-in-law, price-adjustment, tender and amendment terms. Contract-wise reconciliation of pre-transition and post-transition work may support a supplementary agreement and revised GST-inclusive value where contractual entitlement exists. It cannot alter statutory valuation, return, limitation, interest or penalty requirements, which remain governed by GST law.

Revocation of cancellation of GST registration may be sought within 30 days from service of the cancellation order. On sufficient cause and recorded reasons, the Additional Commissioner may extend the period for up to 30 further days, and the Commissioner may allow a further extension. Pending GSTN functionality, delayed applicants must request extension by letter or email through the proper officer, who forwards the matter to the competent authority. The authority may grant a personal hearing before rejecting the request, and the proper officer thereafter processes the revocation application under applicable law.

Assist-Edge enables teams to describe intended processes in natural language and use AI to create, modify, and enhance executable workflows. Working with reusable AI agents and workflows, it supports discovery, customisation, deployment, and scaling of enterprise automation. For banking, financial services, and insurance operations, its use is positioned alongside security, governance, auditability, and control, supporting governed adoption of scalable AI capabilities and movement from isolated experimentation to enterprise-wide intelligent automation.

Late-presentation charges under Section 46(3) require the proper officer to be satisfied that no sufficient cause existed for delayed filing. Regulation 4(3) prescribes the late-charge framework and permits waiver where the reasons for delay are satisfactory. A delayed supplementary Bill of Entry for excess cargo is not automatically liable or automatically exempt; the assessment depends on timely original filing, linkage of the excess cargo to the same consignment, prompt amendment efforts, absence of importer fault, bona fides and duty compliance. Electronic calculation cannot substitute for a reasoned determination on sufficient cause.

BC Engine permits eligible $BC holdings to participate in hourly settlement rounds distributing BCD rewards. Participants can monitor active balances, cumulative rewards, unclaimed BCD, and settlement history through the Engine interface. Settlement amounts vary with ecosystem activity, while the mechanism links platform activity, token utility, user participation, and commercial partners through repeated value distribution rather than one-time promotional incentives.

Input Tax Credit reconciliation for FY 2017-18 and FY 2018-19 addresses differences between credit availed through Form GSTR-3B and credit detailed in Form GSTR-2A. The central clarification applies mutatis mutandis within the Goa GST regime as clarificatory guidance, establishing a common administrative basis for addressing these return-based credit discrepancies.

Approval under Section 80G(5) requires an assessment of a trust's objects as a whole where predominantly charitable purposes coexist with some religious objects. Rejection based solely on selected religious clauses is inadequate without a factual examination of actual religious expenditure and whether it exceeds 5% of total income. Assessment must therefore address both the overall object profile and the statutory expenditure limit.

NLMC's Board recommended monetisation proposals involving surplus land and building assets valued at over Rs. 5,000 crore. Monetisation is facilitated through asset identification, due diligence, valuation and appropriate process structuring, with emphasis on transparency, efficiency and value realisation. Sustained coordination with asset-owning entities is intended to expedite implementation and support timely, commercially appropriate monetisation of underutilised public assets.

Time for applying for revocation of cancellation of GST registration is extended to 30th September 2021 where cancellation occurred under clauses (b) or (c) of Section 29(2) and the original due date fell between 1st March 2020 and 31st August 2021. The extension applies to unfiled, pending, rejected and appellate-stage revocation matters. Fresh applications may be filed after rejection where no appeal was filed or an appeal was decided against the taxpayer. Further statutory extensions after 30th September 2021 depend on the elapsed revocation period and satisfaction of the competent authority.

Differing chemical laboratory reports on seized goods may be addressed through fresh sampling and retesting. Fresh samples may be drawn from the seized goods upon application to the competent authority, with samples retained for both sides. Laboratories selected by each side may conduct retesting, with the petitioner bearing the cost. This process permits verification where the existing laboratory reports conflict.

Refund applications by unregistered persons under the Goa GST Act, 2017 follow, mutatis mutandis, the filing manner prescribed in the corresponding Central GST clarification. This adopts the Central GST framework for State implementation, promoting uniform procedural treatment of such refund claims. Difficulties in applying the clarification may be brought before the Commissioner of State Taxes.

Sufficient cause for condoning a 341-day delay in an income-tax appeal may arise from bona fide administrative complexity after an inter-state transfer of jurisdiction following a search. Reconciliation and transfer of judicial records, together with consequential hierarchical approvals, are relevant factors under Section 5 of the Limitation Act. Substantial revenue and proposed legal questions support a pragmatic limitation analysis focused on substantial justice rather than time-bar dismissal.

Finalisation of pending bills of entry was required after customs authorities remained inactive following the importer's limited request for time to submit documents in a Special Valuation Branch matter. The importer was to receive advance notice and a personal hearing, with written submissions permitted thereafter, before orders finalising the bills of entry. The arrangement addressed procedural completion only: all rights and contentions on customs valuation remained open, and no view was expressed on the merits.

Indexed cost of acquisition must reflect the total actual consideration paid to acquire the same property, rather than being confined to the amount recorded in the registered purchase deed. A taxpayer claiming a higher acquisition cost must establish that the additional payment was made towards that property through documentary evidence. A lower registered-deed value, including one reflecting understatement for stamp-duty purposes, does not by itself justify reducing the actual acquisition cost for income-tax computation. Once additional consideration is proved, it must be included in the indexed cost of acquisition.

Zero Forex Markup applies automatically to international transactions made through all existing and new credit cards, without a new-card application, upgrade, spending threshold or other stated condition. International card spends do not attract forex markup charges. Reward Points or Cashback, where applicable to the relevant card, continue on international transactions. Existing credit cards may be used for overseas and cross-border payments without requiring a separate forex card solely to avoid such charges.