Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
The case involves the rejection of an application for registration u/s 80G by the CIT(E) due to a time limit issue. The ITAT held that provisional registration is meant for newly formed trusts/institutions not yet active, distinguishing them from those already engaged in charitable activities. Trusts in the latter category, though not mandated to apply for registration u/s 80G, can do so under the new procedure. Those with provisional registration must apply for regular registration u/s 80G. The ITAT interpreted the time limit provision to apply to trusts not active at the time of provisional registration. The matter was remanded to the CIT(E) for reconsideration in line with the decision, ensuring a fair hearing. The appeal was allowed for statistical purposes.
The case involves the rejection of an application for registration u/s 80G by the CIT(E) due to a time limit issue. The ITAT held that provisional registration is meant for newly formed trusts/institutions not yet active, distinguishing them from those already engaged in charitable activities. Trusts in the latter category, though not mandated to apply for registration u/s 80G, can do so under the new procedure. Those with provisional registration must apply for regular registration u/s 80G. The ITAT interpreted the time limit provision to apply to trusts not active at the time of provisional registration. The matter was remanded to the CIT(E) for reconsideration in line with the decision, ensuring a fair hearing. The appeal was allowed for statistical purposes.
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