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No Blanket Ban on CSR Deduction Under 80G: ITAT & Revised 14A Claim Without Audit Backing Rightly Denied: ITAT
The ITAT ruled on a case involving Gujarat State Financial Services Ltd. regarding a ₹3.57 crore CSR donation to the Mukhyamantri Shree Swachchta Nidhi Gujarat. Initially, the assessee claimed a deduction under Section 80G, which the authorities disallowed, stating CSR donations were not eligible. However, the Tribunal found the donation qualifies under Section 80G and allowed the deduction.
Dohit Muranjan
9 minutes ago2 min read
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Section 12A Exemption Cannot Be Denied Solely On Generation Of Surplus: ITAT
The ITAT decided that a charitable society registered under Section 12A can still get tax exemption, even if it has a surplus from operations. The society, which runs eye hospitals, reported no income for 2017-18. The AO saw a surplus of 31.29% and classified it as taxable. However, the Tribunal concluded that the main activity was eye care, qualifying it for exemption, since it met the 85% application requirement.
Dohit Muranjan
39 minutes ago2 min read
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Rejection of 80G Approval Solely Due to Fee Receipt by 12A Registered Trust Not Valid: ITAT
The assessee, registered under Section 12A, applied for 80G approval under Section 80G of the Income-tax Act. The trust received school bus, tuition, and exam fees, but the Commissioner rejected the application, stating the receipts were not valid donations.
Dohit Muranjan
May 302 min read
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Statutory Development Work Done Without Profit Motive Not Covered by Section 2(15)Proviso: High Court
The High Court ruled that a statutory authority, recognized as a charitable institution under the Income-tax Act, was not covered by Section 2(15)Proviso for statutory development work done without profit motive. The assessee filed a nil income return for 2014-15, but the Assessing Officer added ₹21.62 crore, stating the first proviso was applicable.
Dohit Muranjan
May 302 min read
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Internal Audit in Not-for-Profit Organizations: A Strategic Tool
Not-for-Profit Organizations (NPOs) are at the forefront of driving meaningful change. In their mission to build a better world, principles like accountability, transparency, and impact are not just expectations, but guiding principles. Earning the trust of donors, boards, regulators, and communities is both a privilege and a responsibility. Amidst this noble pursuit, Internal Audit stands out as a transformative tool. It not only strengthens systems and safeguards integrity
Suhani Hirawat
May 295 min read
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Building a Finance Function That Grows With Your NGO
Lessons from working with 100+ NGOs at over the last 15 years at Aria CFO Services.
Ritu Jain
Apr 294 min read
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Only Income from Violative Investment u/s 13(1)(d) is Taxable, Not Entire Income of Charitable Institution: HC
Only Income from Violative Investment u/s 13(1)(d) is Taxable, Not Entire Income of Charitable Institution: HC
Dohit Muranjan
Mar 32 min read
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Retrospective Applicability of Section 12AA Exemption is Available Based on Grant of Subsequent Exemption under Deemed Registration Rule: ITAT
Retrospective Applicability of Section 12AA Exemption is Available Based on Grant of Subsequent Exemption under Deemed Registration Rule: IT
Dohit Muranjan
Jan 162 min read
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Income earned through incidental business activities and utilised for achieving the objectives of a Trust qualifies for exemption under Section 11- ITAT
Income earned through incidental business activities and utilised for achieving the objectives of a Trust qualifies for exemption under Sect
Dohit Muranjan
Jan 162 min read
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Drafting an effective Procurement Policy for NPOs: 6 Key Considerations
Drafting an effective procurement policy is critical for Non-Profit Organisations (NPOs) to ensure transparency, accountability, and
Suhani Hirawat
Jan 164 min read
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Achieving Financial Sustainability for NGOs: Key Strategies
Financial sustainability is vital for NGOs to ensure long-term impact and uninterrupted operations. By reducing dependence on external donor
Parul Agrawal
Dec 19, 20247 min read
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Business income of an educational charitable trust utilised entirely for charitable purposes qualifies for exemption under Section 11(4A): ITAT
The assessee was a public charitable trust registered under Section 12A of the Income-tax Act, 1961 (IT Act). Its primary charitable activit
Dohit Muranjan
Dec 19, 20242 min read
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Section 12A does not provide for deemed registration if application is not disposed of within six months : HC
The assessee, a public trust, applied for registration under Section 12A of the Income-tax Act, 1961 on February 6, 2006.
Dohit Muranjan
Dec 19, 20242 min read
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FCRA Return (FC-4): Things to keep in mind
FCRA Return (FC-4): Things to keep in mind
Parul Agrawal
Nov 15, 20244 min read
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Registration under Section 12AB cannot be rejected solely due to Trust's focus on a specific community as Section 13(1)(b) applies only at the assessment stage: ITAT
Registration under Section 12AB cannot be rejected solely due to Trust's focus on a specific community as Section 13(1)(b) applies only at
Dohit Muranjan
Nov 15, 20241 min read
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HC: Anonymous Donations to Charitable cum Religious Trusts Exempt Under Section 115BBC
HC: Anonymous Donations to Charitable cum Religious Trusts Exempt Under Section 115BBC
Dohit Muranjan
Nov 15, 20242 min read
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Cracking the FCRA Code: 5 Essential Dos and Don’ts for NGOs
Cracking the FCRA Code: 5 Essential Dos and Don’ts for NGOs
Parul Agrawal
Oct 16, 20244 min read
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Reopening of charitable trust's assessment based on 'mere change of opinion' is not valid : HC
Reopening of charitable trust's assessment based on 'mere change of opinion' is not valid
Dohit Muranjan
Oct 16, 20243 min read
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Rental income of charitable organization should be computed under section 11 after reducing repairs and maintenance expenses; however, no standard deduction under section 24 is permitted: ITAT
Rental income of charitable organization should be computed under section 11 after reducing repairs and maintenance expenses;
Dohit Muranjan
Oct 16, 20243 min read
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Revision under section 263 cannot be invoked by PCIT when the AO's view allowing deduction under section 80G for CSR expenses is supported by various Tribunal decisions: ITAT
Citation- American Express (India) P. Ltd. vs. PCIT ITAT: Delhi ITA No: 2468 (Delhi) of 2023 Assessment Year: 2016-17 Date of Order-...
Dohit Muranjan
Sep 19, 20242 min read
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