House purchase exemption
Reading from Supreme Court decision in 365ITR389 it appears material date of purchase or date of transfer of immovable property…
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Today's
Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Charitable expenditure
By the decision in Math Gadwaghat Trust( 2024]119 ITR (Trib) 134 (ITAT[Varanasi]) it is held that administrative nature of expenditure…
......Read MoreHospital running own pharmacy entitled to exemption on pharmacy incomes
Running of hospital by the society in (2023] 33 ITR (Trib)-OL 797 (ITAT[Raipur]) was considered by the AO as an…
......Read MoreGOLAK DONATIONS
Charity is imbibed in every kind of religious faith so did the bench of the Tribunal in (2016] 47 ITR…
......Read MoreMis-utilisation of funds may risk exemption
Income-tax is a welfare legislation for it provides exemptions to charitable trusts etc. However all said and done charity and…
......Read MoreCharitable institutions may lose exemption for any statutory offences
A charitable institution is expected to comply with all the laws of the land. The Commissioner (Exemption) is vested with…
......Read MoreSupreme Court dicta on charities need fine tuning
In the context of a charities engaged in an object of general public utility the Supreme Court in (2022] 449…
......Read MoreMiserable on income tax lawmakers
In a most dreadful situation the Supreme Court in [2022] 447 ITR 766 (SC) were cornered with a question whether the Tribunal…
......Read MoreProviso to 2(15) is intent driven and has very limited application
For a charitable society that makes any profits their exemption claim is not determined on the basis of commercial nature…
......Read MoreWhat after cancellation of exemption/registration
The tax authorities have a right to cancel registration of trusts in some situations. At the same time the trust…
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