Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Rejection of application for final approval u/s 80G(5)(iii) - The appellant, previously approved under Section 80G(5) of the Income Tax Act as a charitable institution, sought final approval following an amendment. Despite applying for provisional approval and subsequently for final approval, the application was rejected by the CIT(Exemption). The Tribunal clarified the interpretation of statutory provisions, emphasizing the application process for final approval and the applicability of CBDT Circulars. It held that the commencement of activities before provisional approval did not hinder the application process. The Tribunal directed the grant of provisional approval to the appellant and ensured the continuation of benefits under Section 80G of the Act.
Rejection of application for final approval u/s 80G(5)(iii) - The appellant, previously approved under Section 80G(5) of the Income Tax Act as a charitable institution, sought final approval following an amendment. Despite applying for provisional approval and subsequently for final approval, the application was rejected by the CIT(Exemption). The Tribunal clarified the interpretation of statutory provisions, emphasizing the application process for final approval and the applicability of CBDT Circulars. It held that the commencement of activities before provisional approval did not hinder the application process. The Tribunal directed the grant of provisional approval to the appellant and ensured the continuation of benefits under Section 80G of the Act.
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