Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
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PCIT (Central), Gurgaon lacked subject-matter jurisdiction to decide renewal of charitable registration under section 12A(1)(ac)(ii) because the competent authority was the Commissioner of Income Tax (Exemptions), Chandigarh under the relevant CBDT notification. The Tribunal also held that renewal proceedings are confined to the genuineness of the activities and compliance with other laws relevant to the objects, and cannot be converted into cancellation proceedings. As the assessees were engaged in education, and the record did not discredit the genuineness of those charitable activities, past or minor irregularities could not justify refusal of renewal. The rejection orders were set aside and renewal directed.
PCIT (Central), Gurgaon lacked subject-matter jurisdiction to decide renewal of charitable registration under section 12A(1)(ac)(ii) because the competent authority was the Commissioner of Income Tax (Exemptions), Chandigarh under the relevant CBDT notification. The Tribunal also held that renewal proceedings are confined to the genuineness of the activities and compliance with other laws relevant to the objects, and cannot be converted into cancellation proceedings. As the assessees were engaged in education, and the record did not discredit the genuineness of those charitable activities, past or minor irregularities could not justify refusal of renewal. The rejection orders were set aside and renewal directed.
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