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...
It was held that a proposed object-clause amendment cannot justify outright rejection of 80G renewal. What matters is actual application of funds, not a removable clause in the trust deed.
It was ruled that section 80G(5B) expressly permits limited religious expenditure up to 5% of total income. Denial of approval without examining actual expenditure was held to be legally unsustainable.
The Tribunal upheld deletion of an ad-hoc expense addition where the Assessing Officer failed to point out defects in audited accounts. Proper documentation shifted the burden back to the tax authority.
ITAT held that Section 68 cannot be invoked where donors are identified with names, PAN, ITRs, and confirmations. Such donations cannot be treated as unexplained cash credits or anonymous income.
The issue was rejection of trust registration as non-maintainable without hearing. The Tribunal ruled that due opportunity must be granted and remanded the matter for fresh consideration.
Delhi High Court held that issues relating to debt and fraud is within the jurisdiction of NCLT to be determined in accordance with IBC. Resultantly, the power of a civil court to entertain the present suit is, therefore, statutorily barred. Accordingly, the plaint is rejected.
The issue was whether the NCLT could declare ownership of a trademark during CIRP. The Supreme Court held that title disputes not arising directly from insolvency fall outside Section 60(5) jurisdiction.
It was ruled that failure to specify an exact project in Form 10 is a technical lapse. Where the charitable objects and utilisation are evident, accumulation cannot be disallowed.
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).
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.
