In view of CBDT Instruction No. 1132, dt. 5-1-1978. inter-trust donation by one charitable trust to another for utilization by donee trust towards charitable objects was proper application of income for charitable purpose in the hands of donee trust and it would not affect exemption under section 11 as claimed by donor trust, i.e., assessee in any manner, whatsoever, especially in view of the fact that it was not the case of AO that donee had not applied such sums for charitable purposes.

DCIT v. Divya Yog Mandir Trust

  Section 11   Direct Taxes
Where assessee made interest free advances out of interest free own funds available with it, no disallowance of deduction under section 36(1)(iii) was called for.

Dharam Pal Aggarwal v. ACIT

  Section 36(1)(iii)   Direct Taxes
The actionable claims other than lottery, betting, gambling are activities or transactions which shall be treated neither as a supply of goods nor a supply of services and hence do not attract GST as per CGST or SGST Act.

Venkatasamy Jagannathan, In re

  Section 2 of CGST Act, 2017   GST
Disallowance under section 14A cannot surpass the quantum of exempt income.

Harish M. Kukreja v. ITO

  Section 14A   Direct Taxes
Where AO treated share premium as “ Income from Other Sources” under section 56(2)(viib), as assessee issued shares at a premium far in excess of FMV, but the AO had not held any enquiry for determination of FMV as per provisions of section 56(2)(viib), thus, matter was remitted back to the AO to undertake exercise of determining FMV of the shares.

CIT v. Vaani Estates (P) Ltd.

  Section 56(2)(viib)   Direct Taxes
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