Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
The ITAT decided on the rejection of a Trust's application for approval u/s 80G(5) due to "religious" expenses. The CIT(E) did not seek specific details before rejecting the application. The ITAT directed a fresh assessment by the CIT(E) to determine if less than 5% of total income was spent on religious activities. If so, Trust may qualify for benefits u/s 80G(5) if other conditions are met. The appeal was allowed for statistical purposes.
The ITAT decided on the rejection of a Trust's application for approval u/s 80G(5) due to "religious" expenses. The CIT(E) did not seek specific details before rejecting the application. The ITAT directed a fresh assessment by the CIT(E) to determine if less than 5% of total income was spent on religious activities. If so, Trust may qualify for benefits u/s 80G(5) if other conditions are met. The appeal was allowed for statistical purposes.
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