The Income Tax Appellate Tribunal (ITAT) in Ahmedabad has set aside a tax authority’s rejection of a trust’s Section 80G exemption application. The court ruled that mentioning a temple among multiple charitable objects does not automatically make the trust “substantially religious” and directed a review of its actual expenditures.
The Allahabad High Court has set aside a GST order against Virendra Kumar Surendra Prakash, citing a portal error where the order was not properly displayed to the taxpayer.
ITAT Ahmedabad has set aside a tax authority’s rejection of Rajnibhai Kanada Memorial Foundation’s Section 80G tax exemption. The court held that objects related to Indian culture and spirituality, such as teaching music or celebrating festivals, are not substantially religious and that the tax authority must allow the trust to explain its expenditures before denying the exemption.
Tribunal remands assessment of Namdhari Seeds on income from leased lands, awaiting Supreme Court ruling on whether contract farming income qualifies as agricultural income under section 10(1).
ITAT emphasized that section 69C applies only to unexplained or unrecorded expenditure; recorded educational expenses cannot be arbitrarily disallowed.
The Income Tax Appellate Tribunal (ITAT) in Bangalore ruled that an individual’s right to claim Foreign Tax Credit (FTC) is substantive, and a delay in filing Form 67, a procedural requirement, cannot extinguish this right.
The ITAT Chandigarh confirmed the denial of Section 12A and 80G tax exemptions for the TIF Foundation, ruling that its primary activities of distributing awards and funding a chess association were inconsistent with its declared charitable objects of helping the needy.
ITAT rules that a co-op bank’s dealings with nominal members do not violate mutuality, allowing a deduction under Section 80P. It also clarifies rules for interest income from deposits.
The ITAT Ahmedabad has remanded a case involving Akshar Elecinfra Pvt. Ltd., ruling that the denial of an 80JJAA deduction was due to a technical portal glitch and not a substantive error.
The ITAT Ahmedabad reduced the estimated net profit rate for a milk retailer from 7% to 4.5%, finding the higher rate unrealistic for the business, and condoned a 101-day appeal delay.
