Section 12 of Income Tax Act, 1961
Income Tax : The Finance Bill 2025 introduces amendments for trust registration, extending validity to 10 years for certain trusts and clarifyi...
Income Tax : ITAT Delhi upholds CIT(E) order in ITO Vs Mehta Charitable Prajanalaya Trust, disallowing unrelated expenses and clarifying deduct...
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...
Income Tax : ITAT Delhi held that exemption under section 10(23C)(iiiad) of the Income Tax Act granted on the basis of provisional registration...
Income Tax : ITAT Ahmedabad rules Section 13(1)(b) applies only during assessment, not registration, remands trust 12AB application to CIT(E)....
Income Tax : Assessee was predominantly engaged in activities of imparting education and also involving the certain educational institutions. A...
Income Tax : ITAT Jaipur held that trust incurring more expenditure than income doesn’t debar it from benefit of exemption u/s. 11(1)(a) of t...
Income Tax : ITAT Ahmedabad held that matter regarding rejection of registration under section 12A of the Income Tax Act remitted back to file ...
NCLAT Delhi held that any dispute even pending in the arbitration does not in any manner prohibit the financial creditor to take remedy under Section 7. Thus, appeal dismissed and held that application u/s. 7 duly admitted.
M.M. Patel Charitable Trust Vs PCIT (Central) (ITAT Pune) In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Pune has overturned the order of the Principal Commissioner of Income Tax (PCIT), which had canceled the registration of M.M. Patel Public Charitable Trust under Sections 12A and 12AB of the Income Tax Act, 1961. The […]
It is also noteworthy that the learned Departmental Representative (DR), during the hearing, did not point out any material differences between the facts of the present case and those of the earlier assessment years.
ITAT Mumbai remands Rotary Charity Trust’s 80G approval case due to an inadvertent section error in Form 10AB. Matter sent back for reconsideration.
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.
