Daily Archives: May 18, 2026

AO’s Plausible View on Trust Fund Accumulation Cannot Be Revised Merely Due to Different Opinion Issue Whether the Commissioner (Exemptions) can invoke revisional jurisdiction under Section 263 to override an Assessing Officer’s plausible view when the Assessing Officer has already verified the trust’s fund accumulation and utilization documents. Whether an unnotified invocation of Explanation 2… Read More »

AO’s plausible view cannot be revised under Section 263 merely due to different opinion. Issue Whether the Commissioner (Exemptions) can invoke revisional jurisdiction under Section 263 based on a different opinion or Explanation 2 when the Assessing Officer has already conducted inquiries, applied his mind, and taken a plausible view regarding the utilization of accumulated… Read More »

Assessee Belonging to Scheduled Tribe Allowed Reconsideration as Revisional Order Lacked Necessary Local Enquiry Issue Whether the revisional authority was justified in denying relief under Section 264 without conducting or causing a local enquiry or adopting a pragmatic approach, when doubts existed regarding the source of cash deposits and business turnover of a Scheduled Tribe… Read More »

Microfinance with Commercial Elements and Interest Charges Lacks Charitable Intent and Disqualifies for Tax Exemption Issue Whether a Section 8 company engaged in microfinance and credit activities can qualify for charitable registration under Section 12A/12AB and tax benefits under Section 80G if its operations involve commercial elements, interest charges, and a failure to demonstrate a… Read More »