Sec. 80G approval couldn't be denied just on ground that no activities had been started towards objects of trust

INCOME TAX : Once objects of assessee-trust is found to be charitable and section 12AA registration is granted, immediate non-start of activity by assessee trust cannot be a reason for denial of approval under section 80G(5)

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Properties acquired by ARC along with underlying security interest not to be attached without reason to believe

FEMA BANKING AND INSURANCE LAWS: Where an asset reconstruction company acquired outstanding loans of banks/financial institution along with underlying securities including charge over mortgaged properties, attachment order of said properties was to be set aside as no reason to believe was provided and subject properties were acquired prior to commission of alleged offence

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Ms. Babita Rayudu takes charge as Executive Director, SEBI

Ms. Babita Rayudu takes charge as Executive Director, SEBI

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SC dismissed SLP as tax effect involved in appeal was less than prescribed limit

INCOME TAX: Where High Court deleted disallowance made by revenue authorities by applying provisions of section 14A, read with rule 8D, in view of fact that tax effect involved in matter was less than Rs. two crores, SLP filed against High Court's decision was to be dismissed

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Assessee entitled for Sec. 80 HHC deduction including dedication available u/s 80-IB; SLP dismissed

INCOME TAX: Where High Court held that Tribunal had erred in taking view that assessee was entitled to deduction under section 80HHC on total income after excluding deduction available under section 80-IB, SLP filed against said order was to be dismissed

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Disallowance under section 14A can’t exceed exempt income of relevant year; SLP dismissed

INCOME TAX: SLP dismissed against High Court ruling that disallowance under section 14A cannot exceed exempt income of relevant year

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000192098/disallowance-under-section-14a-can’t-exceed-exempt-income-of-relevant-year-slp-dismissed.aspx

No capital gain exemption if bogus share transactions were entered into by assessee; SLP dismissed

INCOME TAX: Where High Court upheld Tribunal's order holding that assessee's claim for exemption under section 10(38) could not be allowed because share transactions were bogus as company 'C' whose shares were allegedly purchased was a penny stock, SLP filed against said order was to be dismissed

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