Income Tax : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
Income Tax : This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It...
Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...
Income Tax : Understand the taxation of trusts in India, covering registered and unregistered trusts. Learn about relevant sections, exemptions...
Income Tax : Shalki Bansal Charitable/religious trusts are the trusts which are formed with an objective of providing relief to poor, education...
Income Tax : Having regard to the gravity of the allegations, the ongoing investigation, the requirement of further probe into digital and fina...
Fema / RBI : The Karnataka High Court upheld the Appellate Tribunal's finding that the respondents satisfied the definition of person resident ...
Income Tax : The Supreme Court held that grants disbursed by a statutory corporation formed part of its core business functions and qualified a...
Income Tax : Delhi ITAT held that before the amendment effective from 01.04.2015, exemption under Section 54 could be claimed for investment in...
Corporate Law : The Tribunal admitted the voluntary insolvency application after examining financial statements, bank records, and other documents...
Legal analysis of SARFAESI Act: Exemption from stamp duty for documents favoring asset reconstruction. Case: Assets Care Vs Ankit Metal (NCLT Kolkata).
Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violation of section 269SS of the IT Act, if any, would call for a separate penalty under section 271D, not an addition under section 68.
Bombay High Court held that MVAT Authorities would not have priority in the recourse to the assets that are secured in favour of the secured creditor and registered in priority with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).
Supreme Court rejected the bail application of Shri Satyendar Kumar Jain and others involved in the case of money laundering as appellants have not complied with the twin mandatory conditions laid down in Section 45 of Prevention of Money Laundering Act, 2002.
Read the full text of the order from ITAT Bangalore regarding denial of exemption under Section 11(1) of the Income Tax Act for expenses incurred on mementos to Presidents and Secretaries of Milk Producers Association.
Madras High Court ruling on Tvl. Transtonelstory Afcons – Joint Venture vs. Assistant Commissioner (CT). CMRL liable for TDS, not contractors. Full judgment details.
Delhi High Court held that investigation for a period beyond 365 days not resulting in any proceedings relating to any offence under the Act, in terms of Section 8(3) of the PMLA Act, is that such seizure lapses. Thus, property so seized directed to be released.
Delhi High Court held that any non-compliance to the mandate of section 19(1) of the Prevention of Money Laundering Act, 2002 (PMLA) would vitiate the arrest itself.
Supreme Court held that the recovery certificate itself would give rise to a fresh cause of action entitling a financial creditor to initiate Corporate Insolvency Resolution Process (CIRP).
Delhi High Court held that writ petition filed is not maintainable as per provisions of section 26 of the Prevention of Money Laundering Act, 2002 (PMLA) an appeal is to be filed before the Appellate Tribunal against any Order passed by the Adjudicating Authority.
