Section 80G - Page 4

TPO’s scope is limited to computing arm’s length price of a transaction

Honda Motorcycle and Scooter India Pvt. Ltd. Vs ACIT (ITAT Delhi)

ITAT Delhi deleted TP adjustment on payment of model fee for export to AEs stating that scope of TPO is limited to determination of arm’s length price and TPO cannot adjudge commercial expediency of a transaction....

Beware of Cash Transaction under Income Tax Act

Discover the legal constraints around cash transactions under India's Income Tax Act. Learn about the various sections that impose limits and penalties on cash dealings....

Posted Under: Income Tax |

ITAT Orders Re-Adjudication of Trust’s 12AB Registration Cancellation for Failure to Prove Activity Genuineness

Vishranti Gruh Vs Commissioner of Income Tax Officer (ITAT Pune)

ITAT Pune re-adjudicates Vishranti Gruh Trust's cancelled 12AB registration due to failure in furnishing genuineness of activities. Learn more about the decision....

Charitable Trust Registration rejection without Application of Mind is Unsustainable

Surti Modh Vanik Jagruti Mandal Vs ITO (E) (ITAT Mumbai)

A detailed analysis of ITAT Mumbai ruling in Surti Modh Vanik Jagruti Mandal Vs ITO (E). Learn why ITAT found CIT(E) rejection of the trust unsustainable....

Section 12A Registration denial: ITAT grants one more opportunity to Appellant

Kalyan Riverside Charitable Foundation Vs CIT Exemption Pune (ITAT Mumbai)

ITAT Mumbai decides on Kalyan Riverside Charitable Foundation's registration under sections 12 & 80G. Key insights on the ITAT's decision and implications....

AO Must Allow 4 Weeks After Rejecting Objections to Reassessment

Shree Raj Foundation Vs DDIT (ITAT Mumbai)

ITAT Mumbai held that AO is bound to dispose of the objections filed by the assessee against reopening and give at least four weeks time, from the date of rejection of objection, to assessee to seek any legal remedy. In absence of the same, reopening of assessment is not legally sustainable....

Section 80G Recognition Requires Trust Registration u/s 12AB: ITAT

Akhil Hind Mahila Parishad Vs Commissioner of Income-Tax (Exemption) Ahmedabad (ITAT Surat)

ITAT clarifies: Section 80G recognition needs Trust's 12AB registration. Unregistered trusts ineligible for 80G recognition....

Addition towards unexplained cash credit unsustainable as identity & creditworthiness proved

Shree Automotive Pvt. Ltd. Vs DCIT (ITAT Kolkata)

ITAT Kolkata held that addition under section 68 towards unexplained cash credit unsustainable as assessee has discharged its onus to prove the identity and creditworthiness of the share subscribing company....

ITAT Grants registration u/s 12AB and 80G to Path Foundation

Path Foundation Vs CIT (ITAT Indore)

Path Foundation's ITAT Indore appeal results in the grant of registration u/s 12AB and 80G. Analysis of the violations and expert opinion provided. Full text of the order....

Avoid Cash Payments: Impact on Deductions and Tax Compliance

Discover why cash payments should be avoided for personal and business transactions. Learn about the deductions affected and the potential consequences of using cash. Stay compliant with tax regulations....

Posted Under: Income Tax |

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