The ITAT Bangalore remitted a case on trust registration, ruling that proposed activities and infrastructure spending can be considered genuine charitable activities.
The ITAT Bangalore has ruled that a charitable trust’s spending on land and building is for charitable purposes. Learn how this decision affects trust registration and tax exemptions in India.
The ITAT has set aside a penalty order against a taxpayer, Murmu Pankaj Kumar, ruling it was premature as the core quantum appeal was still pending before the CIT(A).
ITAT Bangalore upholds the deletion of a Section 56 addition. The sale of jewellery inherited through a will constitutes a long-term capital gain, allowing the assessee to claim a Section 54F deduction.
ITAT Bangalore rules that cooperative societies can claim Section 80P deduction on interest from other co-ops, but not from scheduled commercial banks.
ITAT Bangalore upholds a Section 263 revision. An AO’s assessment order that silently accepts cash deposits and property sources, without proper inquiry, is erroneous.
ITAT Bangalore upholds that a cooperative society can claim an 80P deduction on income enhanced by disallowances like NPA and reserve provisions, directing the AO to recompute.
ITAT Bangalore deletes an income tax addition for Maloo Constructions, ruling that purchases were not bogus despite a third-party report. The decision emphasizes that disallowances require more than mere suspicion and must be supported by independent inquiry.
The ITAT Bangalore has ruled that the levy of late fees under Section 234E is invalid for periods before June 1, 2015, as the legal framework was not in place.
ITAT Bangalore confirms that the maximum marginal rate for discretionary trusts includes the highest applicable surcharge, regardless of the income amount, dismissing the assessee’s appeal.
