Category: Judgments
Registration u/s 80G does not make a trust purely charitable so as to tax anonymous donations u/s 115BBC(1) – High Court In a recent judgment, Hon’ble Bombay High Court has held that merely by registration u/s 80G a trust can not be said to be a charitable trust …
ITAT allows benefit of New Tax Regime holding that Form No. 10IE is not mandatory but directory in nature In a recent judgment, ITAT Pune has held that that it is not a mandatory requirement for filing of Form No.10IE but directory in nature. ITAT allowed benefit of …
ITAT allows rectification application u/s 154 treating the first demand notice as deemed date of intimation u/s 143(1) In a recent judgment, ITAT Rajkot allowed delayed rectification application u/s 154 treating the first demand notice for recovery proceedings as deemed date of intimation u/s 143(1) for limitation purpose. …
There is no willful default of furnishing inaccurate particulars of income if disallowance made u/s 40(a)(ia) In a recent judgment, ITAT Cuttack has held that where a disallowance is made by invoking the provisions of section 40(a)(ia) of the act for default for non-deduction of TDS, it cannot …
CBDT Instruction No. 20/2003 regarding timely disposal of appeals is also applicable to faceless regime – ITAT In a recent judgment, ITAT Raipur held that CBDT Instruction No. 20/2003 related to timely disposal of appeals is also applicable to faceless regime. The ITAT set aside the appellate order …
Unexplained credits in bank statements are taxable under section 69 – High Court In a recent judgment, Hon’ble Madras High Court has held that unexplained credits in bank statements are taxable under section 69 as this provision applies to unexplained investments that are not recorded in books of …
Books of accounts regularly maintained can not be rejected for mere non compliance of Rule 6F – ITAT In a recent judgment, ITAT Chennai has held that merely quoting non compliance of Rule 6F and section 145(3) of the Act, the AO cannot reject books of accounts regularly …
Capital generation capability not profit generation ability to be seen for investment – ITAT deleted addition u/s 68 In a recent judgment, ITAT Delhi deleted addition u/s 68 and held that tax authorities erred in believing that new investment can be made only on the basis of profit …
In case of loss of vehicle, the Road Tax authorities have power to write off the demand from the date the vehicle is lost In a recent judgment Hon’ble Allahabad High Court noted that in case the petitioner establishes the loss of vehicle, the authority has the power …
ITAT followed recent decision of High Court to held that approval u/s 151 by JCIT by merely recording as ‘yes’ was bad in law. In a recent order, ITAT Delhi following a recent decision of the High Court held that approval u/s 151 by JCIT by merely recording …
