Daily Archives: July 22, 2026

Rejection of Section 12AB Renewal Solely Due to FCRA Non-Renewal Without Independent Satisfaction Warrants Remand

By | July 22, 2026
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Rejection of Section 12AB Renewal Solely Due to FCRA Non-Renewal Without Independent Satisfaction Warrants Remand Issue Whether the Commissioner of Income Tax (Exemption) [CIT(E)] can reject a charitable trust’s application for renewal of registration under Section 12AB solely on the ground that its Foreign Contribution (Regulation) Act (FCRA) registration renewal was rejected, without recording independent… Read More »

Delay in Filing Form 10B During COVID-19 Must Be Condoned to Grant Section 12A Exemption

By | July 22, 2026
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Delay in Filing Form 10B During COVID-19 Must Be Condoned to Grant Section 12A Exemption Issue Whether the Commissioner of Income Tax (Exemption) was justified in rejecting the assessee’s application under Section 119(2)(b) for condonation of delay in filing Form 10B (audit report) for AYs 2020-21 and 2021-22, thereby denying exemption under Section 12A. Facts… Read More »

Registered Venture Capital Funds Can Claim Sections 10(34) and 10(35) Exemptions Simultaneously With 10(23FB)

By | July 22, 2026
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Registered Venture Capital Funds Can Claim Sections 10(34) and 10(35) Exemptions Simultaneously With 10(23FB) Issue Whether a SEBI-registered Venture Capital Fund (VCF) claiming exemption under Section 10(23FB) is barred from simultaneously claiming exemptions under Sections 10(34) (dividend income) and 10(35) (income from mutual fund units) of the Income-tax Act, 1961, for Assessment Year 2016-17. Facts… Read More »

Notification No. 91/2026

By | July 22, 2026
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Notification No. 91/2026 Notification No. 91/2026 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi 17thJuly, 2026 S.O. 3935(E).—In exercise of the powers conferred by clause (viiaf)to section 47 of the Income-tax Act, 1961 read with section 536(2) of the Income-tax Act, 2025, the Central Government hereby notifies the transfer… Read More »

Notification No. 89/2026

By | July 22, 2026
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Notification No. 89/2026 Notification No. 89/2026 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi 17thJuly, 2026 (INCOME TAX) No. 89 of 2026-CBDT S.O. 3936(E).—In exercise of the powers conferred by section 2(112)of the Income-tax Act, 2025(30of 2025) read with rules7(5)(b),(c) and7(8)of the Income-tax Rules, 2026, the Central Government hereby… Read More »