Judgement As the assessee trust only carried out educational activities, exemption under Section 10(23C)(vi) of the IT Act is to be allowed (Shree Sanskar Tirth Educational and Charitable Trust vs. The CIT(Exemptions), Ahmedabad)(Income Tax Appellate Tribunal) (17.05.2022)The assessee is a charitable trust registered with Assistant Charity Commissioner. The trust is also registered under Section 12A of the Income Tax Ac.... MANU/IR/0024/2022Direct TaxationExpenditure incurred for up-gradation of existing products is revenue expenditure (Mahale Behr India Pvt. Ltd. Vs. Deputy Commissioner Of Income Tax)(Income Tax Appellate Tribunal) (17.05.2022)The issue in the present appeal relates to the allowability of the expenditure claimed as product development expenses of Rs.1,42,39,571 as revenue ex.... MANU/IP/0221/2022Direct TaxationAddition made purely on the basis of conjectures and surmises is not permissible under law (Kuldeep Katiyar, New Delhi vs. Acit, New Delhi)(Income Tax Appellate Tribunal) (17.05.2022)The assessee is an individual and is engaged as partner in the business of manufacturing of shoes under the name "Zoomtech Industries" who filed retur.... MANU/ID/0718/2022Direct TaxationLevy of penalty has to be clear as to the limb under which it is being levied (Vishnu & Co.Trademarks P. Ltd. New vs. Acit, New Delhi)(Income Tax Appellate Tribunal) (17.05.2022)The Assessee has claimed expenses of Rs. 48,53,671 under the "business promotion expenses" which were disallowed by the Assessing Officer (AO) on the .... MANU/ID/0694/2022Direct TaxationBefore making an order under Section 148A(d) of the IT Act, Assessing Officer has to consider the reply of the Assessee in response to the notice (Aten Capital Private Limited vs Assistant Commissioner Of Income Tax)(High Court of Delhi) (18.05.2022)Present writ petition has been filed challenging the order passed under Section 148A(d) and the notice issued under Section 148 of the Income Tax Act,.... MANU/DE/1779/2022Direct TaxationProceedings under the SARFAESI Act cannot be continued against corporate debtor, once the CIRP is initiated and the moratorium is ordered (Indian Overseas Bank vs. RCM Infrastructure Ltd. and Ors.)(Supreme Court) (18.05.2022)Present appeal challenges the judgment passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi ( “the NCLAT”), thereby dismi.... MANU/SC/0661/2022Insolvency