Hansujja Padhy

Summary: Mumbai ITAT in Reliance Foundation Hospital Trust has held that a charitable organisation’s registration cannot be denied merely because of the scale of its operations, sophisticated infrastructure, or substantial receipts. The ITAT examined the scope of enquiry and emphasised that renewal of charitable registration should be decided as per the law and evidence available on record.

Summary: Section 254(2) of the Income Tax Act, 1961, provides power to the Income Tax Appellate Tribunal to amend its order to rectify any mistake apparent on record to ensure fairness without re-visiting the entire case and prolonging litigation. This blog analyses a recent decision of the Hon’ble Bombay High Court where the extent of exercise of rectification powers was discussed. It held that a subsequent Supreme Court decision on the issue cannot be grounds for rectification of orders.

Taxation Of Buyback Of Shares In India Page 1 Capital gains tax exemption under the IndiaMauritius DTAA cannot be denied if the Mauritian resident entity was not established for tax avoidance Page 7 Section 55 of the IT Act applies to computation of cost of acquisition on liquidation over other general provisions of the IT Act Page 16 Trust's receipts are not taxable on the basis of donor TDS Page 20 Free Trade Agreement are inapplicable until incorporated in municipal law Page 27 We are...