ITAT Nagpur overturns CIT(E) order, restoring trust’s 12AB registration. Procedural lapses don’t negate genuine charitable activities.
Since the status of assessee changed from society to Section 8 Company, it had filed an application in Form no.56D, on 11/04/2008, seeking grant of fresh approval u/s. 10(23C)(vi) of the Income tax Act, 1961.
ITAT Nagpur held that addition under section 69C towards unexplained expenditure is liable to be deleted due to lack of corroborative and strong evidence. Accordingly, appeal of the department dismissed.
ITAT Nagpur held that cultivation of mushroom falls within the purview of agriculture and hence income from sale of mushroom is agricultural income which is eligible for exemption under section 10(1) of the Income Tax Act.
During the course of search and seizure operation, several incriminating documents related to the assessee were found and seized from the residential premises of Shri Prashant Bongirwar.
ITAT Nagpur directs AO to reconsider revised Form 9A in Deendayal Seva Pratishthan’s case, impacting taxable income assessment for AY 2020-21.
ITAT Nagpur rules in ITO Vs N. Kumar Housing, addressing ₹5.2 crore addition under Sections 41(1) and 68. Liability cessation and unexplained cash credits analyzed.
ITAT Nagpur allows Revenue’s appeal in ACIT Vs Unique Realities Builders & Developers, validating Section 153C proceedings and Section 69A income additions.
Section 263 could not be used merely to impose a different view on the estimation rate. Since the declared income exceeded the presumptive tax threshold, there was no loss to revenue, making the revision unjustified.
Analysis of Section 263 proceedings in a case involving a builder and developer. Learn why the PCIT directed reassessment for AY 2016–17 and key judicial observations.
