Daily Archives: August 20, 2026

Interest Incurred Post Project Completion On Unsold Inventory Is Deductible Revenue Expense Upon TDS Compliance

By | August 20, 2026
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Interest Incurred Post Project Completion On Unsold Inventory Is Deductible Revenue Expense Upon TDS Compliance Interest Incurred Post Project Completion On Unsold Inventory Is Deductible Revenue Expense Upon TDS Compliance Issue Whether interest expenditure incurred after the completion of a real estate project on borrowed funds relatable to unsold stock-in-trade must be capitalized to flat… Read More »

Registration Under Section 12AB Restored As Primary Proof Exists Via Affidavit And Departmental Records

By | August 20, 2026
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Registration Under Section 12AB Restored As Primary Proof Exists Via Affidavit And Departmental Records   Registration Under Section 12AB Restored As Primary Proof Exists Via Affidavit And Departmental Records Issue Whether CIT(E) can reject a Section 12AB registration application solely for lack of an original physical pre-2021 registration certificate when official departmental records and trustee… Read More »

ITAT Remands Rejections Of Trust Registrations And Section 80G Approvals For Fresh Adjudication

By | August 20, 2026
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ITAT Remands Rejections Of Trust Registrations And Section 80G Approvals For Fresh Adjudication ITAT Remands Rejections Of Trust Registrations And Section 80G Approvals For Fresh Adjudication Issue Whether Section 12A/12AB registration or Section 80G approval can be rejected solely due to technical errors, such as selecting the wrong clause in online forms. Whether rejection of… Read More »

Transfer Pricing Adjustments Restricted, Foreign Travel Disallowance Quashed, And Carbon Credit Sale Held Capital Receipt

By | August 20, 2026
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Transfer Pricing Adjustments Restricted, Foreign Travel Disallowance Quashed, And Carbon Credit Sale Held Capital Receipt Issue Whether transfer pricing adjustments for corporate guarantee commission and loan interest rate should be restricted based on precedents set in the assessee’s own case. Whether an ad hoc disallowance of foreign travel expenses is sustainable when the assessee voluntarily… Read More »

Registration Under Section 12AA Cannot Be Denied Solely For Want Of Registration With Charity Commissioner

By | August 20, 2026
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Registration Under Section 12AA Cannot Be Denied Solely For Want Of Registration With Charity Commissioner Registration Under Section 12AA Cannot Be Denied Solely For Want Of Registration With Charity Commissioner Issue Whether the Commissioner (Exemptions) can reject an application for registration under Section 12AA solely on the ground that the applicant-trust is not registered with… Read More »

Addition Under Section 69 And Capital Gains Tax Quashed As Investment Source Stood Duly Explained

By | August 20, 2026
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Addition Under Section 69 And Capital Gains Tax Quashed As Investment Source Stood Duly Explained Issue Whether addition made under Section 69 towards alleged unexplained cash investment in agricultural land is sustainable when the cash payment source is supported by bank withdrawals. Whether agricultural land situated beyond 8 kilometers from municipal limits (as per Notification… Read More »

ITAT Decides Key Tax Issues On Deductions, Disallowances, Capital Gains, And MAT For AY 2016-17

By | August 20, 2026
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ITAT Decides Key Tax Issues On Deductions, Disallowances, Capital Gains, And MAT For AY 2016-17 Issue Deduction u/s 80-IB/80-IE: Whether interest income from staff advances/deposits and trade receivables is eligible for deduction. Section 14A Disallowance: Whether interest and administrative expense disallowances apply when own interest-free funds are sufficient, and whether Section 14A adjustments apply to… Read More »