Section 12 of Income Tax Act, 1961
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 : 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...
Goods and Services Tax : An analysis of GST treatment on post-supply price revisions for exports with IGST payments. Learn about debit and credit notes, in...
Income Tax : The Tribunal condoned a 60-day delay after accepting explanations relating to migration of the ITAT portal and the death of a fami...
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...
ITAT Jaipur held that withdrawing approval under section 10(23C)(vi) of the Income Tax Act not justified in absence of any corroborative evidence of personal benefit of trustees and misuse of funds. Accordingly, appeal allowed and registration u/s. 10(23C)(vi) restored.
ITAT held that exemption under section 11 cannot be denied where the audit report in Form 10B was filed before CPC processed the return, even if the return itself was belated.
Registration under section 80G was rejected due to a clause suggesting financial assistance abroad. Ruling: ITAT held application of income occurs in India. Key takeaway: Mere mention of foreign studies cannot block 80G registration.
ITAT Ahmedabad held that donations linked to milk supply were compulsory and cannot be treated as corpus contributions under Section 11(1)(d). The trust’s claim for exemption was denied, though a statutory deduction of 15% on revenue was allowed.
ITAT Ahmedabad rules that a charitable trust’s exemption under Sections 11 and 12 cannot be denied due to a technical mismatch in reporting new 12AB registration in the ITR. The substantive validity of the original 12A registration ensures continuity of exemption.
The Tribunal held that section 13(1)(b) did not apply to a trust formed before 1961 and directed grant of registration. The key issue was whether activities for a Scheduled Caste community invalidated the application.
The Tribunal directed fresh examination of whether the government allocation received by the assessee constituted a corpus fund under section 11(1)(d). It held that the lower authorities had not properly considered the assessee’s submissions, requiring the matter to be verified afresh.
ITAT restored the matter to the Assessing Officer since the assessee’s application for delayed 12A registration and condonation under Section 119(2)(b) was still undecided. The ruling underscores that exemption eligibility must be re-examined only after the competent authority disposes of the registration request.
ITAT Delhi held that rebate and concession in fees to poor student claimed as donation is in accordance with object of the trust and hence deletion of disallowance of donation by CIT(A) is justifiable. Accordingly, appeal of revenue dismissed.
The assessee’s exemption under section 11 was initially denied as Form 10B was filed after the return. The court held that timely availability before assessment suffices. Key takeaway: Section 11 benefits apply if Form 10B is accessible during assessment.
