Experts Query Daily Digest :19 January 2026

Subhash

19 January 2026 at 12:59

Posted On : 19 January 2026

Exemption u/s 10(23C)(iiiad) by ITAT

Whether ITAT can allow exemption to an educational institution u/s 10(23C)(iiiad), if AO and CIT(A) had disallowed exemption u/s 11 and also did not allowed exemption u/s 10(23C)(iiiad), being not claimed in ITR ?

Also share the relevant case laws to be cited while appealing to ITAT.

TIA

shinu

19 January 2026 at 10:54

Posted On : 19 January 2026

Sec 185 and 186

Sir,

A pvt ltd company no expenses and no incomes ,share capital was introduced and later the director withdraw amount from bank.so the situation is

trial balance
share capital 10 lakh credit
Director Loan 9.65 lakh debit
how to show this director loan in books as it is debit balance and if small company has any exemption to 185 AND 186,also how to report in audit report.The company has neither accepted any borrowings nor any payments.pls help

Kiran T

19 January 2026 at 11:42

Posted On : 19 January 2026

Mentioning of GST models in invoice

Dear Sir/Madam,

I received a GST invoice in which the vendor mentoned GST models as "Central Tax" and "State Tax" instead of CGST and SGST respectively. Is there any issue in mentioning in that way ? Do I ask for revised invoice ? Please note that my company is not registered under GST.