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Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...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...
Compensation by its very nature, had to be just. For suffering, no part of which was the claimant-appellant’s own fault, she had been awarded a sum which could, at best, be described as ‘paltry’. In regard to the application of the Eggshell-Skull Rule, the impugned judgment was silent as to how this rule applied to the present case.
ITAT Chennai held that rejection of application in Form No. 10AB for seeking approval u/s. 80G(5)(iii) of the Income Tax Act by treating it as time barred under gist that CBDT circular no. 22/2022 dated 01.11.2022 didn’t provide extension of time limit is unjustified.
Read the detailed analysis of Madras HC’s judgment setting aside GST imposition on vouchers, citing lack of reasoned order.
Authority / power to revoke or cancel the Discharge Certificate on the premise that the material particulars furnished in the Discharge Certificate was false, lied with the exclusive jurisdiction of the Designated Committee.
Supreme Court held that provisions of section 71 of the Customs Act doesn’t apply when goods were not warehoused inside the notified public bonded warehouse but were unloaded outside the notified area but within factory premises and kept under a shed on permission granted by Superintended.
ITAT Bangalore held that payment made by Google India Pvt. Ltd. to Google Ireland Limited (assessee) for sale of online advertisement space is not taxable in India as the same cannot be regarded as royalty or FTS.
Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payments to avoid penalties and interest.
Rani Constructions Pvt Ltd vs Union of India: Delhi High Court rules membership of an arbitral institution is not mandatory to invoke arbitration, setting a precedent.
Delve into the case of Asha Modern Educational Society challenging the denial of income application for charitable purpose under Sections 11 & 12 of the IT Act. Detailed analysis and conclusions provided.
Anjana Foundation Vadodara vs A.O.: Ahmedabad ITAT clarifies that advance filing of Form 10B isn’t mandatory for claiming exemption under Sections 11 & 12.
