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Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...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...
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ITAT held that delay in submitting Form 10B is procedural and can be condoned. It directed reconsideration of exemption where the audit report was filed during appellate proceedings.
The Tribunal held that absence of charitable activities at the time of application does not make a trust non-genuine. The key takeaway is that proposed activities and charitable objects must be considered for registration.
Courts held that prior exemption claims under Sections 11 and 12 cannot justify denial of 80G approval. The key takeaway is that both benefits legally coexist.
The Court set aside rejection of registration based solely on absence of an irrevocability or dissolution clause. It clarified that such conditions are not prescribed under law and cannot be imposed by authorities.
ITAT held that delay in filing Form 10B is only a procedural lapse and not fatal to exemption. It ruled that exemption under Section 11 cannot be denied where audit report is eventually filed.
The Tribunal examined denial of exemption under Sections 11 and 12 due to delayed filing of audit reports. It held that the delay overlapped with COVID-19 disruptions and required reconsideration. The matter was remanded for fresh adjudication based on condonation outcome.
The ITAT held that a 29-day delay in filing Form 10B is a procedural lapse and cannot be the sole basis for denying exemption under Sections 11 and 12. It ruled that substantial compliance and availability of the audit report before processing must be considered. The AO was directed to reassess the exemption claim accordingly.
The Tribunal held that mere generation of surplus from activities does not convert a charitable trust into a business entity. The key issue is whether the surplus is applied for charitable purposes, requiring fresh examination by the Assessing Officer.
ITAT held that delay in filing Form 9A cannot automatically result in denial of exemption under Section 11. The issue was sent back for reconsideration after examining the condonation application before the Commissioner.
The ITAT Ahmedabad cancelled the penalty under Section 271(1)(c) after setting aside the assessment for fresh adjudication, holding that penalty based on the original order cannot survive once the assessment itself is reopened.
