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...
The Tribunal held that issues like capitation fee or misuse of funds are assessment matters, not grounds for denying registration under Section 12AA. The ruling confirms that the Commissioner must limit inquiry to objects and genuineness of activities.
The Tribunal clarified that income from events, totaling less than 20% of gross receipts, does not disqualify a GPU institution from claiming Section 11 exemption. The Assessing Officer’s and CIT(A)’s denial was set aside, as membership fees were not commercial income. Exemption was granted, confirming the society’s charitable status.
ITAT Kolkata ruled that belated filing of Form 10B is only a technical defect and cannot justify denial of charitable exemption. The Tribunal restored Section 11 benefits after confirming compliance in substance.
Tribunal observed failure to produce books of accounts and remitted matter to AO, emphasizing proper compliance and opportunity to present evidence.
The ITAT held that specific-purpose government grants for institutional development are corpus by their inherent character. The AO’s addition of ₹1.7 crore to gross receipts was quashed, emphasizing that utilized grants for setting up assets cannot be treated as income.
ITAT ruled that organising Kathas or Yagnas for charitable fundraising does not constitute a religious object under Section 80G. The trust’s dominant objects were charitable, and expenditure on religious events was minimal. Approval under 80G(5) was therefore directed by the Tribunal.
The ITAT set aside CIT(E) orders denying Section 12A registration and 80G approval due to non-receipt of document requests, allowing the trust a fresh opportunity to comply.
The Tribunal found that an off-market transaction, by itself, does not establish bogus capital gains when supporting records are intact and no direct involvement in price manipulation is shown. The exemption under Section 10(38) was therefore allowed, rejecting additions under Sections 68 and 69C.
ITAT set aside CIT(E) orders denying 12AB registration, holding that section 13(1)(b) cannot be invoked at registration stage; charitable intent and activities must be examined independently.
The Kerala High Court held that the Commissioner’s suo motu revision under Section 263 was unjustified, confirming that donations to other charitable trusts qualify as application of income under Section 11.
