Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
ITAT reversed PCIT's cancellation of charitable trust registration under sections 12A and 12AB. The tribunal held that PCIT lacked express statutory authority to cancel section 12A registration through 12AB(4) proceedings. Show cause notices dated 21.07.2023 and 20.03.2024 were declared void ab initio. ITAT found that alleged 'specified violations' from FY 2019-20 to 2021-22 could not be basis for cancellation as this provision was effective only from 01.04.2022. While seized documents suggested irregularities in salary payments and capitation fees, ITAT ruled that trust's genuine charitable activities in operating medical college and hospital warranted continuation of registration. Any specific financial discrepancies could be addressed during assessment rather than through registration cancellation. Registration under sections 12A and 12AB restored.
ITAT reversed PCIT's cancellation of charitable trust registration under sections 12A and 12AB. The tribunal held that PCIT lacked express statutory authority to cancel section 12A registration through 12AB(4) proceedings. Show cause notices dated 21.07.2023 and 20.03.2024 were declared void ab initio. ITAT found that alleged 'specified violations' from FY 2019-20 to 2021-22 could not be basis for cancellation as this provision was effective only from 01.04.2022. While seized documents suggested irregularities in salary payments and capitation fees, ITAT ruled that trust's genuine charitable activities in operating medical college and hospital warranted continuation of registration. Any specific financial discrepancies could be addressed during assessment rather than through registration cancellation. Registration under sections 12A and 12AB restored.
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