Section 12 of Income Tax Act, 1961
Income Tax : The Income Tax Department has issued detailed FAQs explaining registration, audit, return filing, investment norms, and tax exempt...
Income Tax : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
Income Tax : This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It...
Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...
Income Tax : Courts held that prior exemption claims under Sections 11 and 12 cannot justify denial of 80G approval. The key takeaway is that b...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : ITAT Surat held that delayed filing of Form 10B is a procedural lapse and remanded the matter after directing the AO to consider t...
Corporate Law : The Supreme Court held that a writ petition filed decades after the finalisation of the record of rights was barred by delay and l...
Income Tax : The Court held that Section 263 could not be invoked where the AO had raised queries, examined replies and completed the assessmen...
Income Tax : ITAT held that remuneration to trustees must be examined for reasonableness and cannot be disallowed merely because it was paid to...
Punjab and Haryana High Court directed CBDT to issue a circular extending the ITR due date for audit cases to 30th November 2025. The extension follows Section 44AB and Explanation 2(a) to Section 139(1). Taxpayers now have sufficient time between submission of audit reports and filing of returns.
The ITAT Delhi affirmed the grant of Section 11 exemption to a charitable society, ruling that if the Assessing Officer fails to make a mandatory reference to the DVO to question a valuation, the registered valuer’s report must be accepted. Since the purchase price was lower than the valuer’s estimate, no benefit accrued to related persons.
Tribunal held that charitable or religious trusts that have surrendered their registration and do not claim benefits under Section 11 are to be taxed at normal slab rates applicable to AOPs, not at the maximum marginal rate. The ruling relied on CBDT Circular No. 320 of 1982.
ITAT Mumbai sets aside CIT(E) order, holding Mohanji Bharat Welfare Foundation’s 80G registration application was timely, interpreting the six-month deadline from provisional approval expiry.
The case addressed the disallowance of Rs.1.89 Cr, which the AO treated as a donation to other trusts and deemed income under S 11(3). The ITAT deleted the addition, ruling that payments made to other NGOs for executing charitable projects under the Trust’s supervision and control constitute genuine application of income, not donation.
CESTAT Bangalore held that additional duty of customs is very much leviable under Section 3(1) of the Customs Tariff Act in respect of imported natural rubber equal to the duty of excise levied as cess under Section 12 of the Rubber Act, 1947. Accordingly, refund rightly denied and appeal rejected.
The Ahmedabad ITAT has struck down reassessment orders against Arpanbhai Virambhai Desai, holding that the AO’s reliance solely on an ACB disproportionate assets report without independent application of mind or specifying escaped income is “borrowed satisfaction,” invalidating the Section 147 jurisdiction.
The Income Tax Appellate Tribunal (ITAT), Dehradun, quashed the retrospective cancellation of the charitable trust registration (Sec 12A/12AB) of Sushila Devi Centre. The Tribunal held that the PCIT (Central), Kanpur, acted without jurisdiction, asserting that only the CBDT-notified CIT (Exemption) possessed the authority to cancel such registrations under section 120.
ITAT holds that filing audit report late due to Covid-19 is a procedural lapse, not a ground to deny exemption, following Telangana and Gujarat High Court rulings.
The ITAT dismissed an assessee’s quantum appeal, confirming that a ₹10.42 Cr write-off for decommissioned windmills was a capital loss, not a revenue deduction. Since the trust offered this as business income, the ITAT held the only permissible treatment was adjustment in the block of assets.
