Daily Archives: August 17, 2026

No Further Disallowance Required for Cash Sales Promotion; Charter Hire and Victualling Disallowances Deleted

By | August 17, 2026
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No Further Disallowance Required for Cash Sales Promotion; Charter Hire and Victualling Disallowances Deleted Issue Whether any further disallowance of sales promotion, gift, and sundry expenses under Section 37(1) was warranted when the assessee had already suo motu disallowed 50% of the cash-incurred expenditure. Whether disallowance under Section 40A(2)(b) on charter hire charges paid to… Read More »

Ad-Hoc 30% Site Maintenance Expense Disallowance Reduced to 10% Due to Partial Supporting Voucher Evidence

By | August 17, 2026
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Ad-Hoc 30% Site Maintenance Expense Disallowance Reduced to 10% Due to Partial Supporting Voucher Evidence Issue Whether an ad-hoc disallowance of 30% on site maintenance expenditure was justified when the expenses were supported by internal self-made vouchers and muster rolls, or whether a lower disallowance of 10% would meet the ends of justice. Facts Business… Read More »

Disallowance of Interest Expenditure Deleted as AO Failed to Prove Business Funds Were Diverted for Personal Home Loans

By | August 17, 2026
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Disallowance of Interest Expenditure Deleted as AO Failed to Prove Business Funds Were Diverted for Personal Home Loans Issue Whether the disallowance of interest expenditure under Section 37(1) was justified when the accounts furnished by the assessee did not indicate that the interest claimed in the Profit and Loss account included any interest paid on… Read More »

Delay in E-Verifying Form 10B Due to Covid-19 Inadvertence Condoned Under CBDT Circular No. 16/2024

By | August 17, 2026
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Delay in E-Verifying Form 10B Due to Covid-19 Inadvertence Condoned Under CBDT Circular No. 16/2024 Delay in E-Verifying Form 10B Due to Covid-19 Inadvertence Condoned Under CBDT Circular No. 16/2024 Issue Whether the Commissioner should be directed to grant registration under section 12AB (and consequential 80G approval) to an assessee-trust set up under a national… Read More »

Failure to E-Verify Audit Report Form 10B Due to Inadvertence During COVID-19 Condoned Under CBDT Circular No. 16/2024 to Prevent Genuine Hardship to Charitable Trust

By | August 17, 2026
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Failure to E-Verify Audit Report Form 10B Due to Inadvertence During COVID-19 Condoned Under CBDT Circular No. 16/2024 to Prevent Genuine Hardship to Charitable Trust Failure to E-Verify Audit Report Form 10B Due to Inadvertence During COVID-19 Condoned Under CBDT Circular No. 16/2024 to Prevent Genuine Hardship to Charitable Trust Issue Whether the delay by… Read More »

SECTION 10(46A) OF THE INCOME-TAX ACT, 1961

By | August 17, 2026
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SECTION 10(46A) OF THE INCOME-TAX ACT, 1961 – EXEMPTIONS – STATUTORY BODY/AUTHORITY/BOARD/TRUST/COMMISSION – NOTIFIED BODY OR AUTHORITY NOTIFICATION S.O. 3203(E) [NO. 114 /2025/F. NO. 196/23/2014-ITA-I(PT.1)], DATED 14-7-2025 In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of… Read More »