ITAT Pune upholds PCIT’s order u/s 263, setting aside an assessment for failure to verify ₹82.64 crore in advances for property purchase and related interest income.
Pune ITAT upholds ₹35.92 lakh penalty u/s 270A for misreporting income by a Diagnostic Centre proprietor. Admission of unaccounted cash receipts only after tax survey detection was not considered voluntary disclosure.
The ITAT sent a trust’s case for 12AB and 80G registration back to the Commissioner. The rejection was based on a loan from a trustee without Charity Commissioner sanction.
The Delhi ITAT has restored tax exemptions for Educate India Society, ruling that higher interest payments to related parties were a commercial necessity and not an undue benefit.
The ITAT, Pune, rules that a clerical error in a trust’s registration application is a rectifiable mistake. The tribunal directs the CIT (Exemption) to reconsider the application on its merits, setting a precedent for similar cases.
ITAT Delhi ruled Rasha Welfare Foundation’s EV initiative is charitable, not commercial, upholding 12AA & 80G registration. Focus on genuine activity, not incidental income.
Pune ITAT restores Action For Impact Foundation’s 80G application, setting aside CIT’s rejection on delay grounds. Matter to be reconsidered on merits.
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.
Mumbai ITAT rules potential foreign expenditure is not grounds to deny Section 12AB trust registration, emphasizing genuine objectives over speculative future income use.
ITAT-Cuttack holds only net income, not gross receipts, of an unregistered educational trust is taxable, emphasizing consistency in prior assessments.
