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Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...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...
The issue was whether a new trust can be denied registration due to lack of activities. The tribunal held that proposed charitable activities must be considered, and non-commencement alone is not a valid ground for rejection.
Since most salary payments were accepted, the remaining disallowance was held unjustified. Key takeaway: partial acceptance weakens arbitrary additions.
ITAT Bangalore rules skill development qualifies as education, allowing Sec 11 exemption to charitable trust. Rejects commercial activity view, follows Karnataka HC, and grants full tax relief.
The issue was whether utilisation of earlier accumulated income qualifies for fresh exemption. The Tribunal held it amounts to double deduction as exemption was already claimed earlier.
ITAT held that interest earned on bank deposits is taxable and not covered by the principle of mutuality. The ruling confirms that dealings with third parties break mutuality protection.
The ruling held that incomplete documentation or minor deficiencies cannot be sole grounds for denial of registration. It emphasized that such issues may be examined during assessment proceedings.
ITAT held that vacant unsold flats attract tax on notional rent under house property. The key takeaway is that ownership triggers taxation even without actual rental income.
The Tribunal ruled that failure to specify underreporting or misreporting in notice invalidates penalty. Proper identification of charge is mandatory for valid proceedings.
ITAT held that absence of an explicit irrevocability or dissolution clause is not a valid ground to deny registration under Section 12AB. The ruling directs grant of registration and consequential 80G approval.
Retrospective cancellation of registration was held to be invalid as the scheme of Act did not permit cancellation of registration under Section 12AA(3) with retrospective effect in absence of explicit statutory authority.
