Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
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 tax treatment of monetary, movable, and immovable gifts received by individuals and HUFs. Learn the ₹50,000 thres...
Income Tax : Understand the taxability, registration, and exemption provisions for charitable and religious trusts under Sections 11–13, incl...
Corporate Law : Learn the registration process for NGOs (Trust, Society, Section 8 Company) on the Social Stock Exchange (NSE/BSE), including elig...
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 : ITAT Bangalore rules skill development qualifies as education, allowing Sec 11 exemption to charitable trust. Rejects commercial a...
Income Tax : The issue was whether utilisation of earlier accumulated income qualifies for fresh exemption. The Tribunal held it amounts to dou...
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 ruling held that incomplete documentation or minor deficiencies cannot be sole grounds for denial of registration. It emphasiz...
Income Tax : ITAT held that vacant unsold flats attract tax on notional rent under house property. The key takeaway is that ownership triggers ...
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 assessee sought relief citing internal lapses and adviser dependence. The Tribunal ruled that consistent audits and filings undermined claims of ignorance. Long delays require specific, convincing justification, which was absent.
The Court held that reassessment notices failed because seized documents did not relate to the relevant assessment years. Jurisdiction under Section 153C was therefore not validly assumed.
The ITAT ruled that an inadvertent mistake in selecting the assessment year while filing Form 10AB cannot defeat an existing valid registration. Mechanical rejection without record verification was held unsustainable.
The Tribunal ruled that revising Form 10 during assessment does not invalidate a trust’s accumulation claim when the original form was filed on time. The key takeaway is that revised filings before assessment completion are permissible.
The Court set aside a rectification rejection passed before the scheduled hearing date, holding that Section 154(3) requires a prior opportunity of hearing. The matter was remanded for fresh consideration in compliance with natural justice.
The tribunal held that mere absence of substantial activities since inception is not conclusive where charitable objects are genuine. A fresh opportunity must be granted to substantiate activities with evidence.
Noting that exemption was allowed in multiple subsequent years on identical facts, the Tribunal rejected the Revenue’s stand. The addition and denial of exemption were accordingly set aside.
The ITAT held that filing Form 10B on the extended due date, especially during COVID-19 relief periods, cannot by itself defeat Section 11 exemption. Procedural delay cannot override substantive compliance.
The issue was whether certain objects benefiting members disqualified charitable registration. The Tribunal ruled that dominant charitable objects like education and aid to poor students justified granting registration.
ITAT Jaipur held that application for approval under section 80G inadvertently considered as application under section 12AB of the Income Tax Act is against principle of natural justice. Accordingly, matter restored back to CIT(E).
