The Income Tax Appellate Tribunal (ITAT) holds the power to ...

ITAT Denies Stay Application; Assessee's Activities Contradict Trust Objectives, Leading to Registration Cancellation.

August 16, 2024

Case Laws Income Tax AT

The Income Tax Appellate Tribunal (ITAT) holds the power to grant stay of the operation of an order under challenge during its pendency, if non-granting of stay would render the appeal nugatory for the assessee upon success. Re-assessment proceedings are independent and cannot be considered a consequence of the impugned order cancelling registration. The PCIT (Central)-2, Delhi had jurisdiction to cancel the registration u/s 12AB with retrospective effect, as per precedents. The assessee's claim of carrying activities per trust objects is prima facie contradicted by materials gathered during a survey, indicating involvement in stopping coal-based power plants and mines, utilizing funds from foreign entities. The assessee failed to satisfy conditions of prima facie case, irreparable loss, and balance of convenience for granting stay, as its activities prima facie contradict trust objects and cause potential irreparable loss to the nation's energy requirements. Precedents cited by the assessee were distinguishable on facts. Consequently, the ITAT rejected the assessee's stay application.

View Source

← Previous Next →

The Income Tax Appellate Tribunal (ITAT) holds the power to ...

ITAT Denies Stay Application; Assessee's Activities Contradict Trust Objectives, Leading to Registration Cancellation.

August 16, 2024

Case Laws Income Tax AT

You may also like:

The case pertains to the rejection of provisional registration u/ss 12AB/80G for charitable activities. The Commissioner of Income Tax (CIT) concluded that the assessee...

Trust's application for registration u/s 12AA cannot be denied solely on ground that it is yet to commence charitable activities. At initial stage, authorities must...

The Income Tax Appellate Tribunal (ITAT) held that the provisions of Section 13(1)(b) of the Income Tax Act can be invoked at the time of assessment, based on the...

Exemption u/s 11 - assessee is a Charitable Trust registered u/s. 12A - The Tribunal found that the trust, despite being primarily focused on its members, was engaged in...

Grant registration / certificate to the assessee trust u/s 10(23C)(vi) - carrying educational activities - The Profit and Loss account of the trust also clearly...

Exemption u/s 11 - whether the hostel activity of the trust which is imparting dental education in the institution established by it is a business activity incidental to...

Rejecting the application for approval u/s 80G - assessee trust is registered u/s 12AA and is stated to be engaged in carrying out charitable activities including...

Exemption u/s 10(23C)(iv) denied - activities of the assessee Trust as hit by the proviso to section 2(15) - the activities of the Trust of providing accommodation and...

This is an order from the Income Tax Appellate Tribunal (ITAT) regarding the rejection of final registration u/s 80G(5)(iii) of the Income Tax Act. The key points are:...

Denial of exemption u/s 11 - Assessee is claimed to be a trust carrying on activities of providing swimming pool facilities for aquatic events and training and...

Exemption u/s.10(23)(vi) - The assessee-trust does not have profit motive, the small profit generated while carrying out charitable activities, does not mean that...

Exemption u/s 11 - application filed by the assessee in Form No.10AB for registration u/s 12AB rejected finding that the objects of the assessee were for the benefit of...

Exemption u/s 11 - Charitable activity u/s 2(15) - The Tribunal found that the assessee, a trust, was engaged in charitable activities under Section 11 of the Income Tax...

The ITAT Chennai held that the denial of registration u/s 80G(5) to an old trust was unjustified as the trust existed before the new registration regime. The trust...

The appellant Trust's application for registration u/s 12A was rejected by the Commissioner of Income Tax (Exemptions) on the grounds that its activities were not...

Quick Updates: