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Search Results for "Section 10B exemption"

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High Court

Gujarat High Court Allows Condonation of Delay for Charitable Trust in Income Tax Exemption Case — Technical Defect in Form 10B Approval Not Fatal. The court held that the Commissioner should have liberally condoned the delay under Section 119(2)(b) of the Income Tax Act, 1961 as the trust had filed the audit report before the due date and the delay in approval was due to a technical glitch.

9 Mar 2026

The petitioner, Shri Jain Dehrasar Upasraya Ane Sadharan, is a charitable trust registered under the Gujarat Public Trusts Act, 1950, engaged in runni...

High Court

Bombay High Court Allows Writ Petition of Charitable Trust Against Rejection of Condonation of Delay in Filing Form 9A Under Section 119(2)(b) of Income Tax Act, 1961. CBDT Circulars Must Be Liberally Construed to Grant Relief When Delay Is Due to Change in Procedure from Manual to Electronic Filing.

20 Dec 2024

The petitioner, Nav Chetna Charitable Trust, is a trust registered under Section 12A of the Income Tax Act, 1961, and runs educational institutions. F...

High Court

Bombay High Court Allows Condonation of Delay in Filing Form 10B for Charitable Trust Under Section 119(2)(b) of Income Tax Act, 1961 — CBDT Circular Relaxing Time Limit Applied Retrospectively. The court held that CBDT Circular No. 9/2014, which empowers the Commissioner to condone delay in filing Form 10B, applies retrospectively to pending assessments, and directed the respondent to consider the petitioner's application on merits.

15 Apr 2024

The petitioner, Al Jamia Mohammediyah Education Society, is a charitable trust registered under the Bombay Public Trusts Act, 1950. For Assessment Yea...

High Court

Bombay High Court Dismisses Revenue's Appeal in Transfer Pricing and Inventory Valuation Case. Management fees paid to associated enterprise held allowable as services rendered and benefit derived; provision for obsolete inventory allowed following Rotork Controls.

8 Sep 2022

The appeal was filed by the Pr. Commissioner of Income Tax, Pune under Section 260A of the Income Tax Act, 1961 against the order dated 14th June, 201...

High Court

Bombay High Court Allows Revenue's Appeals in Part in Income Tax Dispute Involving Disallowances Under Section 14A, Section 37, and Section 10B. The court held that Section 14A disallowance requires satisfaction of AO, scientific research expenditure not allowable, demurrage is business expenditure, and Section 10B deduction remanded.

7 May 2021

The case involves appeals by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which had partly allowed the...

High Court

Bombay High Court Allows Condonation of Delay in Filing Form No.10B for Charitable Trusts — Mistake of Chartered Accountant Constitutes Sufficient Cause. The court directed the Commissioner of Income Tax (Exemptions) to condone the delay and process Form No.10B for the assessment year 2018-2019, setting aside the rejection orders.

25 Mar 2021

The petitioners, Little Angels Education Society and Rev. C. F. Andrews Education Society, are charitable trusts running schools in Mumbai and assesse...

High Court

Bombay High Court Allows Revenue's Appeal in Section 10B Exemption Case - Expansion of Existing Unit Not Eligible for Deduction. The court held that the Assessee's expansion of its existing processing capacity with new plant and machinery does not qualify for exemption under Section 10B of the Income Tax Act, 1961, as per the Explanation to Section 10B(7).

22 Oct 2020

The case involves appeals by the Revenue against the Income Tax Appellate Tribunal's order allowing deduction under Section 10B of the Income Tax Act,...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Upholds ITAT Order on Disallowance of Interest and Depreciation. Held that interest on borrowed capital used for acquiring a capital asset is allowable as deduction under Section 36(1)(iii) of the Income Tax Act, 1961, and depreciation on assets acquired under a hire purchase agreement is allowable under Section 32.

12 Jun 2018

The case involves appeals filed by the Revenue (Pr. Commissioner of Income-Tax and Deputy Commissioner of Income-Tax) against the orders of the Income...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Royalty Payment Held Allowable and Section 10B Deduction Properly Claimed. Tribunal's finding that royalty was genuine and in accordance with business exigencies upheld, and assessee's option for Section 10B by filing Form 56G and claiming in computation was valid.

7 Feb 2012

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenged the Income Tax Appellate Tribunal's order dated 22 September 2009...

High Court

Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Sections 147/148 of Income Tax Act, 1961 — Reopening Based on Change of Opinion on Rule 8 Loss Set-Off Held Invalid. The court held that Rule 8 of Income Tax Rules, 1962 applies to both income and loss, and loss from plantation division is a business loss allowable under Rule 8.

1 Apr 2010

The petitioner, Hindustan Unilever Limited, filed its return of income for assessment year 2004-2005 on 29 October 2004, showing net profit before tax...

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