Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Registration u/s 80G(5) - The Tribunal found that the provision allowing expenditure of up to five percent for religious purposes did not apply to this case. - The Tribunal found that the rejection lacked proper confrontation of observations and opportunity for the applicant to rebut. It emphasized that if any object of the trust is wholly or substantially of a religious nature, it falls outside the scope of Section 80G. The Tribunal allowed the appeal for statistical purposes and directed reconsideration by the Commissioner of Income Tax (Exemption) with proper opportunity for the assessee to present their case.
Registration u/s 80G(5) - The Tribunal found that the provision allowing expenditure of up to five percent for religious purposes did not apply to this case. - The Tribunal found that the rejection lacked proper confrontation of observations and opportunity for the applicant to rebut. It emphasized that if any object of the trust is wholly or substantially of a religious nature, it falls outside the scope of Section 80G. The Tribunal allowed the appeal for statistical purposes and directed reconsideration by the Commissioner of Income Tax (Exemption) with proper opportunity for the assessee to present their case.
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TaxTMI 
TaxTMI 
of 4916 
