Judgement

ITAT held that Registration under Section 12AB cannot be Denied on mere Suspicion or Section 13 issues. Since the trust’s objects were Charitable and Activities Genuine, Registration was Directed to be Granted.

Registration of Charitable Trust Cannot Be Denied Based on Suspicion of Transactions

News

5paisa Capital Limited received a Rs 33 crore tax demand from income tax authorities and plans to challenge the order.

5paisa Capital Receives Rs 33 Crore Tax Demand Order, Plans Legal Challenge

ITAT deletes ₹1.20 crore addition based on unverified subscriber estimation in reassessment proceedings.

ITAT Grants Relief in Reassessment Based on Third-Party Inputs

The AO treated Amodini Enclave Pvt. Ltd.’s Penny Stock Transactions as Bogus and added Rs 3.42 crore as Unexplained Credits under Section 68.

ITAT Kolkata Restricts Section 68 Addition to Sale Proceeds in Alleged Bogus Share Transactions

ITAT Restricts Section 68 Addition to Sale in Alleged Bogus Share Transaction

ITAT held that an assessment made without waiting for the DVO valuation report under Section 50C is invalid, and such premature assessment was quashed.

Income Tax Assessment Without Waiting for DVO Report Held Invalid by ITAT

Supreme Court upholds ruling that TCS is not applicable on penal recoveries from illegal miners.

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Registration of Charitable Trust Cannot Be Denied Based on Suspicion of Transactions

5paisa Capital Receives Rs 33 Crore Tax Demand Order, Plans Legal Challenge

ITAT Grants Relief in Reassessment Based on Third-Party Inputs

ITAT Restricts Section 68 Addition to Sale in Alleged Bogus Share Transaction

Income Tax Assessment Without Waiting for DVO Report Held Invalid by ITAT

Illegal Mining Fines Outside TCS Scope, Rules Supreme Court