1. The CBDT has de-authorized the Commissioner of Income Tax (Exemption), Bengaluru, for receiving applications and passing an order for provisional registration or registration or provisional approval or approval for various trusts, institutions, and funds. Now only the Director of Income Tax (Centralized Processing Centre), Bengaluru is authorized to do so. [NN.- 52 /2022/F. NO. 370142/4/2021-TPL, dt 09-05-2022]
2. The Central Board of Direct Taxes (CBDT) has amended various forms applicable for applicants seeking registration/approval under Section 10(23C), 12AB, 35, 80G and filing of statements of donations & issuing the certificate to donors under Section 35 and 80G. The board has amended Forms 3CF, 10A, 10AB, 10BD, and 10BE. [NN.- 51/2022/ F. NO. 370142/4/2021-TPL, dt. 09-05-22]
3. Corpus donation as referred to in section 11(1)(d) does not require any application of income as it has to be received with specific direction that said income would be forming part of corpus of trust or institution and, therefore, assessee-trust is eligible for exemption under section 11(1)(a) on capital expenditure made out of corpus funds - JCIT (Exemptions) v. Divya Jyoti Trust Tejas Eye Hospital - 2022] 137 taxmann.com 472 (Ahmedabad - Trib.)
4. Reimbursement by assessee in India to its foreign AE, towards seconded employees is 'salary', not "FTS" & not taxable; Hence, no TDS u/s. 195 - Toyota Boshoku Automotive India (P.) Ltd v. DCIT, LTU, Circle-1 - [2022] 138 taxmann.com 166 (Bangalore - Trib.)
5. Credit utilised for payment of service tax which is not required to be paid is as good as reversal of credit: Hyderabad CESTAT [Swarnandhra IJMII Integrated Township Development Company (P.) Ltd. v. Commissioner of Customs, Central Excise & Service Tax -2022]
Regards,
CA Amit Kumar Ranjan
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