Articles

Income Tax Department denies tax exemption to Mumbai hospital and spiritual trust over alleged commercial activities, raising questions about their charitable status.

Income Tax Department Cancels Registration of Mumbai Hospital and Spiritual Trust Over Profit Motive

Income Tax Department Cancels Registration of top Mumbai Hospitals Over Profit Motive

News

Puravankara Limited secured significant tax relief after favourable CIT(A) rulings allowed previously disallowed deductions, substantially reducing its overall tax liability.

Puravankara Limited Secures Major Tax Relief as CIT(A) Allows Rs 83.37 Crore Deductions

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

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.

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Income Tax Department Cancels Registration of top Mumbai Hospitals Over Profit Motive

Puravankara Limited Secures Major Tax Relief as CIT(A) Allows Rs 83.37 Crore Deductions

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