The Tribunal clarified that the institution existed solely for education and had no unrelated profit-oriented objects. Hence, the stricter test laid down in New Noble Educational Society did not ...

The Tribunal quashed the Assessing Officer’s action of taxing the entire purchase value after invoking Section 145(3). Only estimated profit embedded in such purchases, if higher than declared profit, ...

The law recognises a Hindu Undivided Family as a creature of birth, not agreement, with the Karta deriving authority solely from coparcenary status. Management rights arise by operation of Hindu law ...

Income from property blended into an HUF remains taxable in the individual’s hands under section 64(2). The ruling highlights that blending cannot be used as a tool for income ...