Section 12 of Income Tax Act, 1961
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Income Tax : Understand the taxability, registration, and exemption provisions for charitable and religious trusts under Sections 11–13, incl...
Income Tax : A summary of the tax framework governing charitable entities in India, covering the definition of 'charitable purpose,' mandatory ...
Income Tax : Does the Finance Act, 2025, extend 12AB registration from 5 to 10 years for trusts under Rs. 5 Cr? See if sma...
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Income Tax : The Supreme Court held that grants disbursed by a statutory corporation formed part of its core business functions and qualified a...
Income Tax : PCIT had erroneously mixed up the scope of renewal proceedings with cancellation proceedings under Section 12AB(4). Further, Settl...
Custom Duty : For export transactions occurring before the Finance Act, 2022 amendment, the determination of iron ore fines (Fe content) must be...
Income Tax : Mumbai ITAT held that no further profits can be attributed to a DAPE once the Indian agent is remunerated at arm’s length for al...
The court held that late electronic filing of Form 10B is a procedural lapse that should not defeat charitable exemption. Orders rejecting condonation on technical grounds were quashed.
The case examined denial of section 11 exemption at the processing stage due to late filing of Form 10B. The Tribunal ruled that such delay is a curable procedural defect and cannot justify denial of exemption.
The Tribunal held that IGST demand based on alleged breach of pre-import condition was unsustainable where export obligations were fulfilled and EODCs were issued. Acceptance of EODCs and bond cancellation closed the exemption compliance.
The ITAT held that the PCIT (Central) had no authority to cancel trust registration under Section 12AB. Jurisdiction for exemption matters lies exclusively with the Commissioner (Exemption).
BOCW and welfare cess laws could be treated as subsequent legislation under highway contracts. The Supreme Court held that unless welfare boards and machinery were actually implemented, the cess could not be imposed retrospectively on contractors.
The Tribunal ruled that exemption for charitable trusts cannot be denied merely due to belated filing of Form 10B. It reaffirmed that the requirement is directory, not mandatory, when the audit report is eventually furnished.
Payments to AwasBandhu were allowed as application of income. The Tribunal held such statutory contributions further public purposes and cannot be treated as non-business or taxable expenses.
ITAT Ahmedabad held that the assessee is entitled to the benefit of indexed cost of acquisition while computing book profit under section 115JB of the Income Tax Act. Accordingly, AO directed to recompute book profit after allowing indexation.
The Tribunal held that solar power generation under a CSR structure is not charitable when the dominant benefit accrues to a single corporate entity. The environmental activity must primarily benefit the public to qualify for Section 12AB registration.
It was held that sale consideration from trust property, when donated to charitable institutions, cannot be taxed as income. The ruling confirms protection for genuine charitable application of capital receipts.
