S. 80G : Donation-Form 10AB for grant of final registration under section 80G(5) on 4-2-2023 i.e. within extended timeline provided by CBDT Circular No. 6/2023 dated 24-5-2023 with respect to final registration of Trust under section 12A in Form 10AB i.e. 30-9-2023-Matter is remanded to file of Commissioner (E) for re-deciding issue of grant of final registration under section 80G(5), on merits, as per law.[S.80G(5), Form No 10AB]

S. 80G : Donation-Time line for filing Form no 10A for recognisation under section 12A is extended up to 30-9-2023-10AB for renewal of approval/recognition/registration under clause (iii) of first proviso to section 80G also. [S. 12A,80G(5), Form No 10A, 10AB]

S. 80G : Donation-Delay in filing application-Bona fide belief-Delay of 178 days-Delay is condoned-Matter is remanded to pass the order in accordance with law. [S.80G(5)]

S. 80G : Donation-Provisional approval-Application for approval cannot be rejected on ground that institution has already commenced its activities even prior to grant of provisional registration-The application filed by assessee being within limitation period, order of Commissioner (E) is set aside-CIT(E) is directed to decide the application for final registration within three months of receipt copy of order. [S. 12AA, 80G(5)(iii), 80G(5)(iv)]

S. 80G : Donation-Provisional approval under clause (iv) to first proviso to section 80G(5)-Application for final approval under clause (iii) to first proviso to section 80G(5) could not be rejected on ground that institution had already commenced its activities even prior to grant of provisional registration. [S.80G(5), Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020]

S. 80G : Donation-Delay in filing the application-Tribunal has the power to condone the delay-Delay is condoned-Matter is remitted to CIT( E) to decide application afresh on merits.[Form No 10AB, 80G(5), 254(1)]

S. 80G : Donation-Provisional approval-Date of application-Final approval cannot be rejected on the ground that institution had already commenced its activities even prior to grant of provisional registration.[S.80G(5) Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020]

S. 70 : Set off of loss-One source against income from another source-Same head of income-Short term capital loss-Under provisions of section 70(2), STCL arising from any asset could be set off against STCG arising from any other asset under a similar computation made irrespective of different rate of tax. [S.70(2)]

S. 69C : Unexplained expenditure-Purchases-Submitted addresses, GST No. PAN No., amount of purchases (Net of VAT), bill/voucher/challan issued by parties mentioned details of assessee, excise duty paid, details of truck/challan no., order no. etc.-Payment were made through cheques-Notice sent under section 133(6) through ITBA portal was not responded-Purchases cannot be treated as non-genuine merely because the parties have not responded to notice sent under section 133(6) Addition is deleted. [S. 133(6)]

S. 69A : Unexplained money-Demonetization-Cash deposited-Bank account-Registered dealer under VAT Act-Addition is deleted as regards cash deposit and net profit is restricted to 3% of turnover as against 8% estimated by the Assessing Officer.[S.44AD]