The issue was whether failure to deposit unutilised capital gains in CGAS before the due date defeats Section 54B relief. The ITAT held that where eligible agricultural land is purchased within time and cheques are issued with sufficient balance, CGAS non-deposit is only procedural. Full exemption was therefore allowed.
The key question was whether STR-based information can trigger harsh taxation under Section 115BBE. The ITAT held that without concrete evidence of non-genuine transactions, such additions cannot stand. Both reopening and tax addition were annulled.
The Tribunal held that building construction for future educational use qualifies as charitable activity. The rejection of 80G approval solely due to absence of active operations was ruled unjustified.
The Tribunal held that a charitable trust’s 80G application rejected for late filing must be reconsidered after the trust seeks condonation under Section 119(2)(b). Procedural delay should not defeat substantive rights.
The Tribunal held that a Section 148 notice issued after three years was invalid because the escaped income was below ₹50 lakh, making the reopening beyond limitation.
The issue was denial of charitable exemption due to alleged non-filing of Form 10B. The ITAT held that the audit report was filed on time and wrongly ignored by CPC. Substantive exemption under Section 11 was therefore restored.
The ITAT Pune remanded a charitable trust’s 12A and 80G applications for fresh consideration after noting procedural lapses and granting the trust another opportunity to respond to notices.
Though earlier dismissed for non-prosecution, the Tribunal evaluated the substantive grounds relating to bonus disallowance and income inclusion, granting partial relief.
The Tribunal sent the matter back to the Assessing Officer after finding that important objections on land classification and cost of acquisition were not verified. A fresh decision must be made after proper examination.
The ITAT held that reassessment beyond four years fails when the reasons do not show the assessee’s failure to disclose material facts.
