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Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...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...
CESTAT Chennai held that when the benefit of an exemption Notification is claimed, the claimant has to necessarily fulfil all the conditions prescribed under the said beneficial Notification.
CESTAT Delhi held that communication modules being parts of communication hubs is classifiable under CTI 8517 70 90. Accordingly, differential duty and also interest and imposition of penalty u/s. 114A set aside.
Gujarat High Court examines Sarvodaya Charitable Trust’s appeal against IT department’s refusal to condone Form 10B filing delay for AY 2016-17. Read key takeaways.
The Finance Bill 2025 introduces amendments for trust registration, extending validity to 10 years for certain trusts and clarifying specified person provisions.
ITAT Raipur held that exemption under section 11 and section 12 of the Income Tax Act not admissible to assessee society due to non-furnishing of return of income as required u/s. 12A(1)(b) of the Income Tax Act.
ITAT Ahmedabad held that the Assessee Trust being purely a religious activities of particular Community is not entitled for registration as a specified violation under Explanation [d] of Section 12AB(4) of the Income Tax Act.
ITAT Ahmedabad held that agreement for transfer of operations, management and movable assets didn’t violated the purpose of charity and hence exemption under section 11 and 12 of the Income Tax Act duly available.
Entities advancing general public utility could engage in trade or business only if such activities were incidental to their primary charitable objectives and adhered to specific quantitative thresholds.
The Officers found that factory was operational. On being demanded, Sujit Kumar Bera produced all the gold available in the factory. Total quantity of gold was found to be 2417 grams.
CIT(E) was not justified in denying assessee’s applications for final registration u/s 12AB / final approval u/s 80G as assessee had done only charitable activities till now and not undertaken any activity contemplated by object No. 2 & 3.
