Judgement

The Trust’s application for Section 12AB registration and Section 80G approval was rejected due to scholarships given for studies abroad.

Scholarships Abroad Considered As Foreign Income Use Or Charitable Use In India: ITAT Answers

The ITAT held that the addition under section 69A can only be made if the assessee is found to be the owner of money which is not recorded in the books of account.

Additions Under Section 69A Can be Made Only When Assessee Owns Unrecorded Money: ITAT

A luxury hotel operator tried to write off Rs. 4.90 crore in failed payments, including a deposit lost after a major fire and money gone from a failed business bid.

Forfeiture of Earnest Money/Security Deposits allowed as Deductible Income Tax Expense

Assessee bought a flat at a lower price than stamp value; ITAT held booking date value applies (not registration date) and deleted the ₹29.22 lakh addition under Section 56(2)(x).

ITAT Recognizes Booking Date for Valuation of Immovable Property for Income Tax

The court concluded that the petitioner must be given a proper opportunity of hearing to explain the alleged shortfall of output tax.

Karnataka High Court Remands GST Shortfall Matter Due to Absence of Personal Hearing

HC quashes Section 148 notice, as broker register entry lacked nexus with assessee.

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Scholarships Abroad Considered As Foreign Income Use Or Charitable Use In India: ITAT Answers

Additions Under Section 69A Can be Made Only When Assessee Owns Unrecorded Money: ITAT

Forfeiture of Earnest Money/Security Deposits allowed as Deductible Income Tax Expense

ITAT Recognizes Booking Date for Valuation of Immovable Property for Income Tax

Karnataka High Court Remands GST Shortfall Matter Due to Absence of Personal Hearing

HC Sets Aside Section 148 Notice Based on Vague Broker Entries