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Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...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...
Gujarat High Court held that the role of the applicant’s firm in Gujarat State Land Development Corporation (GSLDC Scam) was very limited and was not actually connected with the field work and only to the extent the audit of vouchers and records.
Bombay High Court held that application of Enforcement Directorate u/s. 4 read with Section 12 of the Fugitive Economic Offenders Ordinance, 2018 praying that the Applicant (Mehul Choksi) be declared as a fugitive economic offender is acceptable as requirement of Section 4 duly complied.
Himachal Pradesh High Court held that the Bank has first charge over the properties being secured creditor in priority over all Other Debts, Revenues, Taxes, Cesses and Other Rates payable to the Central or State Government or Legal Authority.
Madras High Court held that once the purchaser has purchased the property even after knowing about the encumbrances then it is his obligation to discharge the encumbrances. The Bank cannot file a writ petition so as to protect the interest of the third party, who has purchased the property knowing the fact that there are other encumbrances.
In present facts of the case, the revision petition was filed under section 21 (b) of the Consumer Protection Act, 1986 assailing the order dated 11.08.2017 of the State Consumer Disputes Redressal Commission, Pandri, Raipur.
Karnataka High Court dismissed the writ petition in case of illegal excavation/ transportation of iron ore as discretionary jurisdiction under section 482 of Cr. P.C. cannot be exercised.
Punjab & Haryana High Court refused to quash the FIR filed against the Secretary of Red Cross as several irregularities committed in the process of awarding an order to the firm owned by the daughter of the Secretary.
Understand the taxation of trusts in India, covering registered and unregistered trusts. Learn about relevant sections, exemptions, and tax implications for trusts and associations of persons (AOPs).
Shalki Bansal Charitable/religious trusts are the trusts which are formed with an objective of providing relief to poor, education, medical relief, preservation of environment/ monuments , advancement of objects of general public utility, religious purpose, etc. There taxation has always been a point of concern. The entire income of such trust (be it house property, […]
The issue under consideration is whether denial of the exemption under section 11/12 due to various discrepancies found in verification of unsecured loans is justified in law?
