Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
In the case before ITAT Mumbai, the issue revolved around the deduction u/s 80G for a charitable trust. The assessee, now assessable as an AOP, had donated an amount exceeding 10% of its gross total income to an approved educational institution. The CIT(A) held that Section 80G(4) does not restrict donations to 10% of total income, allowing 50% deduction. The matter was remanded to verify deductions for entities u/s 80G(3)(a)(iiif). The Tribunal upheld this decision, dismissing the appeal. Additionally, the claim for deduction u/s 80GGA, though not separately mentioned in the return, was considered valid as it was included under Chapter VIA. Lastly, disallowance of carry forward of excess expenditure was deemed irrelevant as the assessee did not claim benefits u/s 11 and 12.
In the case before ITAT Mumbai, the issue revolved around the deduction u/s 80G for a charitable trust. The assessee, now assessable as an AOP, had donated an amount exceeding 10% of its gross total income to an approved educational institution. The CIT(A) held that Section 80G(4) does not restrict donations to 10% of total income, allowing 50% deduction. The matter was remanded to verify deductions for entities u/s 80G(3)(a)(iiif). The Tribunal upheld this decision, dismissing the appeal. Additionally, the claim for deduction u/s 80GGA, though not separately mentioned in the return, was considered valid as it was included under Chapter VIA. Lastly, disallowance of carry forward of excess expenditure was deemed irrelevant as the assessee did not claim benefits u/s 11 and 12.
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