The ITAT Ahmedabad ruled that the amendment to Section 11(3)(c) by the Finance Act 2022, which reduced the accumulation period for trusts, is prospective. The court granted relief to Sarangpur Talia’s Pole Punch Trust, confirming its right to a six-year window for pre-amendment accumulations.
The ITAT Ahmedabad bench has set aside an order by the CIT(E) that denied 80G approval to a charitable trust, ruling that the matter requires fresh examination.
The Income Tax Appellate Tribunal (ITAT) Ahmedabad set aside an order by the CIT (Exemption) that rejected a trust’s 80G approval application.
The Income Tax Appellate Tribunal rules that a charitable trust’s application for 80G approval cannot be rejected for a mere clerical error in the form. The decision directs a merits-based review.
Ahmedabad ITAT rules in favor of a charitable trust, overturning the CIT(E)’s rejection of its 80G(5) application. The court found that a clerical error in the form was a technical mistake and should not be a basis for rejection without a merits review.
ITAT Ahmedabad dismisses an income tax appeal, ruling that an entire cash payment for land could not be taxed as an unexplained investment.
ITAT Ahmedabad rules that a charitable organization’s application for tax exemption cannot be rejected solely due to a technical error in form submission without a hearing.
ITAT Ahmedabad dismissed the Revenue’s appeal, ruling that a taxpayer’s sale of agricultural land is not subject to capital gains tax, regardless of the buyer’s later use.
ITAT Ahmedabad partly allows Rotomag Enertec Ltd.’s appeal, deleting disallowances on foreign commission, warranty provision, and Section 14A. Learn more.
ITAT Ahmedabad held that addition of LTCG u/s. 68 of the Income Tax Act by treating transaction as bogus cannot be sustained since shares were sold via recognized stock exchange and Security Transaction Tax [STT] duly paid and assessee’s involvement in manipulation of price not pointed.
