S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed the exempt income [R.8D]
ACIT v. Silver Jubilee Motors Ltd. (2022) 94 ITR 19 (Trib) (SN) (Pune)(Trib.)S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed the exempt income [R.8D]
ACIT v. Silver Jubilee Motors Ltd. (2022) 94 ITR 19 (Trib) (SN) (Pune)(Trib.)S. 14A : Disallowance of expenditure-Exempt income-Exempt income not received during year-No disallowance can be made. [R. 8D]
Lumino Industries Ltd. v. ACIT (2022) 94 ITR 675 / 215 TTJ 62/ 213 DTR 290 (Kol.)(Trib.)S. 14A : Disallowance of expenditure-Exempt income-Only those investments, which have yielded exempt income has to be considered for the purpose of computing average value of investments for computing the disallowance. [R.8D]
Dell International Services India (P.) Ltd. v. JCIT (2022) 94 ITR 247 (Bang.)(Trib.)S. 12AA : Procedure for registration-Trust or institution-Interest income earned on investment of surplus funds-Assessable as income from other sources and not as business income-Depreciation not allowable. [S. 32, 56]
Sports Authority of Gujarat v. Dy.CIT(E) (2022) 94 ITR 61 (SN) (Ahd.)(Trib.)S. 12AA : Procedure for registration-Trust or institution-Advancement of any other object of general public utility-It is not necessary that object of general public utility should be beneficial to whole mankind-Object beneficial to a section of public is also an object of general public utility-Merely leasing of developed plots to its members on basis of their respective contributions does not make assessee ineligible for registration as a charitable entity per se. [S. 2(15), 11]
Confederation of Pharma Dealers Association v. CIT (2022) 94 ITR 629 (Raipur)(Trib.)S. 12A : Registration-Trust or institution-Assessment order denying the exemption-Commissioner (Exemption) granted exemption from inspection-Rectification application was denied-Entitle to exemption-Directed to rectify the order. [S. 11, 12, 13, 154]
Rotary Presidency Foundation v. ITO (E) (2022)94 ITR 47 (SN.) (Kol.)(Trib.)S. 11 : Property held for charitable purposes-Income from letting out of building and cultural hall, etc-Medical relief to poor patients, education to deserving students and relief to the needy sections of the society-Denial of exemption is not justified. [S. 2(15), 12AA]
Oswal Bandhu Samaj v. ITO(E) (2022) 195 ITD 200 / 94 ITR 78 (SN) / 215 DTR 374 (Pune)(Trib.)S. 11 : Property held for charitable purposes-Filing of audit report in Form 10B is procedural requirement can be fulfilled even at a later stage by showing a sufficient cause-Entitled to exemption. [S. 154]
Trinity Education Trust v. ITO(E) (2022) 94 ITR 77 (SN) (Surat) (Trib.)S. 11 : Property held for charitable purposes-Accumulation of income-Amount spent on the objects of the Trust-Excess of expenditure-Carry forward to subsequent years. [S. 11(1)(a)]
Dy. CIT v. Dr. D. Y. Patil Educational Enterprises Charitable Trust (2022) 94 ITR 65 (Mum.)(Trib.)S. 11 : Property held for charitable purposes-Corpus donation-amount utilised for acquiring fixed assets-Allowable as deduction. [S. 11(1)(a), 11(1)(d), 11(6)]
JCIT v. Divya Jyoti Trust Tejas Eye Hospital (2022) 194 ITD 772 / 94 ITR 51 (SN) )/ 219 TTJ 1108 / 219 DTR 47 (Ahd.) (Trib.)