Section 12 of Income Tax Act, 1961
Income Tax : Understand the income of trusts or institutions, including registration, exemptions, and FAQs. Learn about Sections 12A, 12AA, and...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Goods and Services Tax : Learn about the tax implications of renting property to government hostels. Get insights from the Telangana AAR ruling and underst...
Income Tax : Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institu...
Custom Duty : This article delves into the flawed interpretation of Rule 27(1) of the SEZ Rules, 2006, and elucidates the intricate legal landsc...
Income Tax : ITAT Bangalore held that propagation of vedic thoughts and philosophy is not religious activity but are more concerned with the li...
Corporate Law : Held that the proprietorship concern may run on whatever name it has and the same has no legal entity, however, the Proprietor of ...
Corporate Law : Supreme Court held that State Bar Councils (SBCs) cannot charge an enrolment fee or miscellaneous fees above the amount prescribed...
Income Tax : Delhi High Court held that affiliation with and recognition by a regulatory authority are not essential attributes of education un...
Corporate Law : Bombay High Court held that industrial dispute existed when the reference was made by the appropriate Government under section 2-A...
ITAT Mumbai held that merely because an assessee is registered u/s 80G of the Act will not automatically mean that such Trust cannot have any religious purpose and therefore cannot avail benefit of Section 115BBC(2)(b) of the Income Tax Act.
Penalty under Rule 26 was justified on the proof that there were sufficient evidences adduced to allege clandestine removal and appellant had in his statement recorded under section 14 while giving the details of working of the unit had admitted that he was actively involved in the working of the unit.
ITAT Delhi rules addition u/s 69A for excess jewelry during a search operation unsustainable as the assessee belonged to a wealthy family and received jewelry on occasions
CESTAT Kolkata held that 100% EOU for clearance in DTA is entitled for benefit of notification no. 2/2008-CE dated 01.03.2006 for clearance of Linear Alkyl Benzene Sulphuric Acid and notification no. 4/2006-CE dated 01.03.2006 for clearance of Spent Sulphuric Acid.
In a Delhi High Court ruling, it is clarified that no stamp duty is payable on instruments executed by or on behalf of the government. This decision is significant for arbitration cases.
CESTAT Kolkata held that 100% EOU unit clearing Spent Sulphuric Acid to fertilizer companies is entitled to take benefit of notification no. 4/2006-CE dated 01.03.2006.
CESTAT Kolkata held that when the Basic Customs Duty (BCD) is Nil Social Welfare Surcharge (SWS), being computed at the rate of 10% of BCD, will also be Nil
Vakrangee Foundation faces a penalty for non-compliance with tax audit provisions under Section 44AB. ITAT rules that Section 2(15) does not exempt charitable institutions.
Madras High Court held that the arriving at taxable turnover arbitrarily without giving particulars of the value of the goods and value of the services untenable under Tamil Nadu Value Added Tax Act (TNVAT Act).
Taxability of income of charitable or religious trusts: Learn about relief of the poor, education, yoga, medical relief, preservation of the environment & more.
