Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Prakash Udyog Ltd. v. ITO [2025] 210 ITD 74 (Mum)(Trib.)

S.14A : Disallowance of expenditure-Exempt income-Investment in partnership firm-Interest paid on the overdraft facility, which was obtained for business activities, should not have been disallowed, as it was not directly related to the exempt share income from the partnership firm.[S.10(2A)]

Chhattisgarh Re-Rollers Association c. CIT (E) (2025) 210 ITD 127 (Raipur) (Trib.)

S. 12AB: Procedure for fresh registration-Charitable purpose-Procedure for fresh registration-Objects of general public utility-Directed to grant the registration [S. 2(15)]

Seven Hills Educational Society v. ITO (E) (2025) 210 ITD 234 (Hyd.) (Trib.)

S. 12AB: Procedure for fresh registration-Selecting wrong selection code-Delay is condoned-CIT(E) is directed to hear the assessee by allowing it to apply under Form 10A. [S. 12A(1)(ac)(iii) Form No 10A/10B]

ACIT (E) v. Mazdoor Welfare Trust [2024] 169 taxmann.com 733 / (2025) 233 TTJ_ 49 (UO) (Chennai)(Trib)

S. 11 : Property held for charitable purposes-If past-year discrepancies, if resolved, do not justify denying exemption in subsequent years. [Form 10B]

Seth Chagan Mall Hira Lakll Dugar Charitable Trust v. ITO, (E) (2025) 210 ITD 266 (Kol.)(Trib.)

S. 11 : Property held for charitable purposes-Failure to file Form No 9A along with the return-Filed later on-Denial of exemption is not justified. [S.11(2)(ii), 139, Form No 9A]

Sree Narayana Dharma Sabha Kodungallur v. ITO(E) (2025) 210 ITD 227 (Cochin) (Trib.)

S. 11 : Property held for charitable purposes-Kuri and finance-Amount spent for object of the Trust-Entitle to exemption.[S.2(15)]

Credit Guarantee Fund Trust for Micro and Small Enterprises v. Dy. CIT (E) (2025) 210 ITD 429 (Mum.) (Trib.)

S. 11 : Property held for charitable purposes-Charitable purpose-Provision of credit guarantee for loans to micro and small enterprises-Entitle to exemption-Provision for guarantee claim-Allowable as deduction [S. 37(1)]

K M Educational & Rural-Development Trust v. ITO [2025] 210 ITD 574 (Chen)(Trib.)

S. 11 : Property held for charitable purposes-Late filing of return-CBDT Circular clarifies that trusts are eligible for exemption u/s.11 even if the return is filed belatedly, provided it is filed within the time permitted u/s.139 (4A) [S. 139(4A)]

Archit Gupta v. ACIT (2025) 210 ITD 27 (Delhi) (Trib.)

S. 10(38) : Long-term capital gains from equities-Penny stock-Accommodation entries-Failure of the Revenue to bring on record any materials linking assessee in any of the dubious transactions-Addition as cash credit is deleted.[S. 45, 68, 147, 148]

Dassault Systems SolidWorks Corporations v. ACIT (IT) (2025) 210 ITD 476 (Mum.) (Trib.)

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-US based company-amount received by assessee from Indian customers on account of sale of software solutions-not royalty income-DTAA-India-USA [Art. 12]