Section 12 of Income Tax Act, 1961
Income Tax : AQs on charitable trusts, covering registration under Section 12AB, income tax rules, donation management, audit requirements, and...
Income Tax : Understand the income of trusts or institutions, including registration, exemptions, and FAQs. Learn about Sections 12A, 12AA, and...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Goods and Services Tax : Learn about the tax implications of renting property to government hostels. Get insights from the Telangana AAR ruling and underst...
Income Tax : Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institu...
Income Tax : Assessee was engaged in the business of purchasing and renting properties, as also the entire income of the assessee was based on ...
Goods and Services Tax : Bombay High Court quashed the assessment order on account of breaching statutory provisions of section 23(4) of the MVAT; violatio...
Income Tax : The securities were treated as stock-in-trade in the hands of assessee. The amount received by assessee on the sale of the sec...
Goods and Services Tax : Allahabad High Court held that if excess stock is found at the time of survey, then proceedings under sections 73/74 of the GST Ac...
Income Tax : Section 36(1)(vii) of ITA applied separately to non-rural debts, while Section 36(1)(viia) of the tax statute only applied to rura...
Assessee-partnership firm had filed its income tax return declaring income. The case was selected for limited scrutiny, focusing on the issues such as investment in immovable property and share capital/other capital.
Allahabad High Court held Deputy Commissioner of Income Tax guilty under section 12 of the Contempt of Courts Act, 1971 and imposed fine of Rs. 25,000 along with simple imprisonment for a period of one week.
Delhi High Court held that timelines under Regulation 35A of the CIRP Regulations, 2016 for filing avoidance application are directory and not mandatory in nature.
ITAT Bangalore held that propagation of vedic thoughts and philosophy is not religious activity but are more concerned with the life style of the human beings and therefore is eligible for approval under section 80G of the Income Tax Act.
Held that the proprietorship concern may run on whatever name it has and the same has no legal entity, however, the Proprietor of such concern is the person who is liable for legal action.
Supreme Court held that State Bar Councils (SBCs) cannot charge an enrolment fee or miscellaneous fees above the amount prescribed in Section 24(1)(f) of the Advocates Act, 1961.
Delhi High Court held that affiliation with and recognition by a regulatory authority are not essential attributes of education under Section 2(15) of the Income Tax Act. NIIT Foundation engaged in conducting systematic and formal instruction, schooling or training qualifies u/s. 2(15).
Bombay High Court held that industrial dispute existed when the reference was made by the appropriate Government under section 2-A of the Industrial Disputes Act, 1947. Further, Industrial Disputes Act, 1947 doesn’t provide any limitation for making a reference.
Supreme Court held that owner of the goods has liability to pay customs duty and interest even after confiscated goods are redeemed after payment of fine and other charges under section 125 of the Customs Act.
Explore the Delhi High Court’s judgment on ITSC’s conclusive nature for AY, assessing reassessment under Section 148 of the Income Tax Act, 1961. Full text and detailed analysis included.