Income Tax : The new Income Tax Rules, 2026 permit reapplication within one month of rejection. This provides a faster alternative to appeals a...
Income Tax : Authorities now scrutinize NGO financial statements before granting or renewing registration. Proper documentation and clear chari...
Income Tax : Expanded grounds for cancellation now include legal non-compliance and incorrect disclosures. Trusts must treat accuracy and gover...
Income Tax : Objects benefiting specific communities or allowing overseas application of funds invite rejection. The ruling focus is on deed la...
Income Tax : Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, incl...
Income Tax : Authorities cannot insist on adding an irrevocable clause in trust deeds for Section 12A renewal when the trust is otherwise legal...
Income Tax : The Pune Chartered Accountants' Society has requested an extension for tax audit and ITR filing deadlines for FY 2024-25, citing t...
CA, CS, CMA : A Chartered Accountants' association requests an extension for tax audit and 12A renewal due dates, citing portal issues, festive ...
Income Tax : The Chartered Accountants Association requests tax deadline extensions for TAR, ITR, and 12A renewals, citing severe floods in nor...
Income Tax : Learn about the rationalisation of provisions for charitable trusts and institutions under the Income-tax Act, merging two regimes...
Income Tax : The Tribunal held that applications were rejected without adequate opportunity. The matter was remanded for fresh adjudication fol...
Income Tax : ITAT held that interest earned on bank deposits is taxable and not covered by the principle of mutuality. The ruling confirms that...
Income Tax : The Tribunal ruled that failure to obtain prior approval for loans is only a procedural lapse. It directed reconsideration of 12A ...
Income Tax : The ruling held that incomplete documentation or minor deficiencies cannot be sole grounds for denial of registration. It emphasiz...
Income Tax : ITAT Mumbai held that rejection of registration under section 12AB of the Income Tax Act treating receipts and income from sale of...
Income Tax : The Income Tax Amendment Rules, effective October 1, 2024, revise Form No. 10A and 10AB for registration under sections 12A and 80...
Income Tax : CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024....
Income Tax : The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompas...
Income Tax : CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of th...
Income Tax : CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable instituti...
Tribunal rules that procedural delay in filing Form 10B does not bar exemption under sections 11 and 12, following Supreme Court guidance on procedural lapses.
The High Court allowed a religious society to submit delayed audit documents, citing the treasurer’s age and Covid-19 as valid reasons, directing authorities to reconsider exemption under Section 11.
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.
The Tribunal held that building construction for future educational use qualifies as charitable activity. The rejection of 80G approval solely due to absence of active operations was ruled unjustified.
The ITAT Pune remanded a charitable trust’s 12A and 80G applications for fresh consideration after noting procedural lapses and granting the trust another opportunity to respond to notices.
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.
The Supreme Court held that the corporate debtor’s alleged pre-existing dispute lacked any factual basis and reinstated NCLT’s CIRP admission. The ruling reaffirms that illusory or unsupported defences cannot defeat a Section 9 IBC claim.
The ITAT Amritsar remanded the 12A registration application after the CIT(E) ignored documentary proof of charitable activities. The trust must now be reconsidered with full verification of invoices, bank statements, and photographs.
The Tribunal noted that amendments introduced by the Finance Act 2024 permit fresh filings after commencement of activities. The delayed application was remanded to the CIT(E) for consideration under the revised provision.
The Tribunal ruled that incidental foreign expenditure does not bar 80G approval, emphasizing that only the main charitable activities’ genuineness matters for registration.
