An ITAT ruling on Aviraldhaani Foundation shows that a trust can be denied charitable registration for having a vague ‘any other activity’ clause, but natural justice must prevail.
An ITAT Pune ruling confirms that domestic companies cannot use DTAAs to reduce Dividend Distribution Tax (DDT) under Section 115-O, as the tax is a levy on the company, not the shareholder.
ITAT Kolkata upholds Rs.17.10 crore penny stock addition against Narayan Suppliers Pvt Ltd, flags money laundering, and directs case referral to ED and CBI for further probe.
ITAT Chennai invalidated reassessment in Pawan Cargo Forwards’ case due to notice issued by JAO, not FAO, violating the CBDT’s 2022 faceless scheme. Penny stock addition deleted.
ITAT Chennai asks CIT(E) to reconsider Bright Educational Trust’s delayed 80G application under amended Section 80G(5)(iv)(B) of the Income Tax Act, effective 01.10.2024.
The Karnataka High Court directed the IT Department to refund excess TDS to the Azim Premji Foundation, along with statutory interest, stressing that refunds cannot be indefinitely withheld.
The Karnataka High Court directed the Income Tax Department to issue a refund with interest to M N Dastur & Company, reinforcing that refunds cannot be withheld after an ITAT order.
The Supreme Court ruled that a promissory note’s cash component cannot be disbelieved for lack of separate proof. The ruling reinforces that the Negotiable Instruments Act presumption applies to the full value.
The ITAT Bangalore ruled in favor of HP India Sales, quashing major tax additions. The tribunal upheld the company’s consistent accounting practices for revenue recognition, discounts, and provisions, reinforcing mercantile principles.
The ITAT granted Lowe’s India partial relief, allowing an 80G deduction for CSR donations while correcting MAT profit and other disallowances. The transfer pricing issue was remanded for a fresh review.
