Explore private trusts under the Income Tax Act, 1961, including definite and discretionary types, their taxation, and key exceptions to tax rates.
Supreme Court rules criminal complaints can be amended post-cognizance if evidence is incomplete and no prejudice occurs, overturning a High Court decision.
Voluntary winding up of LLP, as the name suggests, is initiated by the partners themselves, not by a court or creditors. This gives you more control over the process, allowing for a smoother, more amicable dissolution.
ITAT Jodhpur dismisses revenue’s appeal, upholding deletion of addition for understatement of sales, citing lack of corroborative evidence for loose papers.
Himachal Pradesh High Court orders immediate refund of GST recovered prematurely, violating Section 78 of CGST Act. Court upholds taxpayer’s right to appeal, directing rectification of administrative error with interest.
ITAT Delhi dismisses revenue appeal, deleting Rs. 1.35 Cr addition to Bhola Nath Radha Krishan, citing lack of corroborative evidence and denied cross-examination.
ITAT Lucknow dismisses revenue appeal, confirming deletion of Rs. 1.13 Cr addition, citing lack of identity proof and denied cross-examination.
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Delhi High Court clarifies that reasonable payments to trustees do not automatically revoke a trust’s tax exemption under Sections 11 and 12, overturning the Revenue’s challenge.
Delhi ITAT sets aside a Section 263 revision after ruling the underlying reassessment order was void from the start. Reassessment initiated during active regular assessment period is invalid.
