Income Tax : ISRO succeeded in Mars mission by launching the largest rocket GSLV Mark III in space after lot of efforts and spending crores of ...
Income Tax : Under the existing provisions of section 35(2AB) of the Income-tax Act, a company is allowed weighted deduction of 150 per cent of...
Income Tax : Relying on Supreme Court and Bombay High Court rulings, the Tribunal ruled that sanction by an incorrect authority vitiates jurisd...
Income Tax : The tribunal held that every oil well constitutes an independent undertaking eligible for deduction under section 80IB(9). The key...
Income Tax : The Tribunal held that donations to an institution whose approval was withdrawn retrospectively cannot qualify for deduction under...
Income Tax : The Income Tax Appellate Tribunal (ITAT) in Mumbai ruled in favor of NND Ambernath LLP, holding that a donation made to an institu...
Income Tax : ITAT Ahmedabad held that weighted deduction under section 35(1)(ii) of the Income Tax Act rightly disallowed as donation is given ...
Income Tax : Notification No. 8/2011- Income Tax It is hereby notified for general information that the organization Kelkar Education Trust, M...
Income Tax : Notification No. 83/2010-Income Tax It is hereby notified for general information that the organization Raman Centre for Applied a...
Income Tax : Notification No. 76/2010-Income Tax It is hereby notified for general information that the organization Sisodia Educational, Medic...
Income Tax : Notification No. 60/2010-Income Tax The approved organization shall maintain separate books of accounts in respect of the sums rec...
Income Tax : Notification No.46/2010-Income Tax It is hereby notified for general information that the organization Bhartiya Vaidayak Samanvaya...
Relying on Supreme Court and Bombay High Court rulings, the Tribunal ruled that sanction by an incorrect authority vitiates jurisdiction. The reassessment proceedings were set aside for non-compliance with Section 151.
The tribunal held that every oil well constitutes an independent undertaking eligible for deduction under section 80IB(9). The key takeaway is that profits of individual wells cannot be clubbed merely because they operate under a single contract.
The Tribunal held that donations to an institution whose approval was withdrawn retrospectively cannot qualify for deduction under Section 35(1)(ii). Reopening was upheld, and bona fide belief offered no protection.
The Income Tax Appellate Tribunal (ITAT) in Mumbai ruled in favor of NND Ambernath LLP, holding that a donation made to an institution with a valid exemption at the time of the transaction cannot be disallowed.
ITAT Ahmedabad held that weighted deduction under section 35(1)(ii) of the Income Tax Act rightly disallowed as donation is given to Arvindo Institute of Applied Scientific Research Trust who doesn’t have valid registration. Accordingly, appeal of assessee dismissed.
Chemstar International Vs DCIT (ITAT Mumbai) mere suspicion or cancellation of registration post-donation not invalidate initial eligibility for Section 35(1)(ii)deduction.
ITAT Ahmedabad ruled against C K Zipper Pvt Ltd, disallowing deduction under Section 35(1)(ii) of Income Tax Act for donations to ineligible research trust.
Understand case of Joshi Technologies International Inc Vs CIT regarding weighted deduction on donations under Section 35(1)(ii) of Income Tax Act. Learn why claim was deemed ineligible and implications.
ITAT Jaipur held that benefit of deduction under section 35(1)(ii) of the Income Tax Act unavailable on bogus donation on adoption of unfair means.
In the given case The appellant made a contribution of Rs.1,00,000/- during the year, to M/s.Herbicure Healthcare Bio-herbal Research Foundation, Calcutta. The institution was approved to get the contributions under Section 35(1)(ii) of the Income Tax Act.
