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unit linked insurance policy to which exemption under clause (10D) of section 10 does not apply on account of the applicability of the fourth

removal of doubts, it is hereby clarified that where an individual claims exemption and the exemption is allowed under the second proviso in connection with ... prescribed expenditure, no exemption shall be allowed under this clause in respect of such prescribed expenditure to any other individual;] (5A) [Omitted by the Finance

statutes-Grounds of challenge. Customs Act . 1962 Section 25-Power to grant exemption- Whether legislative power-Whether notification a Subordinate piece of legislation Whether questionable ... there was a levy of customs duty on imported paper. Exemption, however, had been granted for import of white, grey or unglazed newsprint from

LAKHINA Date: 2018.07.30 11:00:29 IST Reason: while   interpreting   a   tax   exemption  2 provision/notification when there is an ambiguity as to its applicability ... supra), a three­Judge Bench ruled   that   an   ambiguity   in   a   tax   exemption provision or notification must be interpreted so as to favour   the   assessee

granted even under section 80-HHB on the ground that conditions for exemption specified thereunder were not fulfilled. The IAC determined assessee's total ... assessment and directed the IAC to reappraise assessee's claim for exemption under section 80- HHB holding that the assessee, being under a bona

publication of newspaper and journals and making profits, if entitled to tax exemption. HEADNOTE: Section 2(15) of the Income-tax Act provides that ... words used clearly imposed a new qualification on public utilities entitled to exemption. It was obvious that, unless such a limitation was introduced, the fourth

residence. In this case, the residents of the State were allowed exemption from paying the capitation fee. But the non-residents were asked

members. that is, to be trade generally, is not entitled to the exemption, and is liable to tax.[845E-G] (1) The test ... answered affirmatively, if (c) (1) is also answered affirmatively the claim for exemption collapses. [844B-C] (2) Section 2 (xv) must be interpreted in such

shall be inserted, namely:–– “(c) any unit linked insurance policy to which exemption under clause (10D) of section 10 does not apply on account ... shall include a case where subsequent to imposition of tax liability, an exemption has been provided;’; (v) in clause (42C),-- (I) for the words “undertaking

except by authority of law. The authority to levy tax or grant exemption therefrom vests absolutely in the Parliament and no other body, howsoever high ... collected in accordance therewith and no person has power to grant any exemption therefrom. The treaty making power under Article 73 is confined only