Exemption otherwise available to charitable trust u/s 11 can be denied to extent of its diverted income as per Sec 13 and not entire income:Bombay HC
Motor boat used in commutation for business purposes is a business asset entitled for depreciation: Mumbai ITAT
No denial of exemption just because educational institution collected part of fees in Foreign exchange abroad
Goods seized due to mismatch in delivery challan & e-way bill to be released on furnishing bank guarantee & bond
Offences and prosecution under the Income Tax Act – A mere allegation that the petitioner was incharge of conduct of company was not sufficient to hold that petitioner was Principal Officer.