Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
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 guide explains when gifts received by individuals and HUFs become taxable under the Income-tax Act, including monetary, movab...
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Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...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 : Expanded grounds for cancellation now include legal non-compliance and incorrect disclosures. Trusts must treat accuracy and gover...
Income Tax : Karnataka State Chartered Accountants Association made a representation on 31.10.2022 to Minister of Finance Smt. Nirmala Sitharam...
Income Tax : CAG noticed ineffective monitoring of accumulation of income and its utilization, ineffective monitoring of receipts and utilizati...
Income Tax : BCAS representation in regard to the conditions set out in various orders of registration granted to Charitable institutions in re...
Income Tax : CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala S...
Income Tax : Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Incom...
Income Tax : The ITAT Delhi held that although failure to file Form 10B disentitled the assessee from claiming exemption under Sections 11 and ...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT held that registration granted under Section 12AA before completion of assessment entitled the trust to claim exemption f...
Income Tax : The dispute concerned whether dividend received on capital reduction by a foreign subsidiary could trigger restrictions under Sect...
Income Tax : The Tribunal held that the special tax regime under Section 115BBE is confined to additions made under Sections 68 to 69D. Additio...
Income Tax : PCIT or CIT can examine if there is any specified violation by the trust or institution registered or provisionally registered und...
Income Tax : CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable instituti...
Income Tax : CBDT has decided that the implementation of new procedure for approval/ registration/notification of certain entities shall be def...
Income Tax : These rules may be called the Bombay Public Trusts (Second Amendment) Rules, 2019. 2. In rule 1 of the Bombay Public Trusts Rules,...
Income Tax : Thus, for a trust registered u/s 12AA of the Act to avail the benefit of exemption u/s 11 shall inter-alia file its return of inco...
ITAT Chandigarh held that additional evidences filed by the assessee deserves to be admitted inspite of casual and callous approach of assessee since the ultimate object of adjudication is to do substantial justice. However, cost of Rs. 3,000/- imposed.
Tribunal confirmed that donations routed as consideration for corporate liaisoning, personal expenses of promoters, and shell transactions justify cancellation of charitable registration from inception
ITAT emphasized that section 69C applies only to unexplained or unrecorded expenditure; recorded educational expenses cannot be arbitrarily disallowed.
The ITAT Delhi ruled that a charitable society’s tax exemption cannot be denied if its registration remains valid. The tribunal emphasized the need for consistency, setting aside a demand based on a factual error.
ITAT Delhi held that applicability of section 115BBE of the Income Tax Act without initially fixing the addition under any of the charging provisions i.e. section 68, 69, 69A, 69B, 69C and 69D of the Income Tax Act is not tenable in the eye of law. Accordingly, appeal allowed.
ITAT Ahmedabad dismisses a trust’s appeal, sustaining a Rs.8.36 lakh tax addition. The trust was ineligible for Section 11 benefits as it lacked Section 12AA registration and served a specific community.
ITAT Ahmedabad held that delay in furnishing Form No. 10B is procedural lapse hence it cannot be sole reason for denial of exemption under section 11 of the Income Tax Act. Accordingly, delay in filing 10B condoned and exemption granted.
ITAT Delhi dismissed an appeal from a gaushala society, upholding the denial of its income tax exemption due to the lack of mandatory registration under Section 12AA.
The ITAT Agra has ruled that clerical errors and physical filing of Form 10B should not result in the denial of a trust’s tax exemption.
ITAT Pune held that revisionary proceedings under section 263 of the Income Tax Act rightly invoked since AO failed to make necessary enquiries and verification. Accordingly, revisionary proceedings upheld and appeal of assessee dismissed.
