Home Highlights March 2015 Year 2015 This

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1. Exemption u/s.10(23C)(vi) - payment of lease rent to trustees of the trust - ld. CIT(E) had stated that this payment of lease rent is in violation of provisions of...

2. Exemption to be allowed u/s 10(23C)(vi) or section 11 – assessee claimed exemption u/s 11 – AO was under obligation to allow exemption u/s 10(23C)(vi) and there is...

3. Assessment u/s 153A - benefit of exemption u/s 11 - Bogus purchases - even if the benefits of section 11 is denied than too there can be no income of the appellant trust...

4. Exemption u/s 11 - Charitable activity - exemption cannot be denied merely on the ground that, earlier the approval u/s 10(23C)(vi) was rejected.

5. Exemption u/s 11 - Deduction u/s 10(23C) - allowability of depreciation - since the AO has failed to examine the claim of the assessee for exemption u/s 10(23C), 11, 12...

6. Entitlement for exemption u/s 10(23C)(vi) – Exemption u/s 11 – Deposits and donations added – Nature of the Institution – Educational OR profit motive - exemption allowed - AT

7. Exemption u/s 10(23C)(vi) - In the year under consideration, the assessee was neither having registration under section 12 A of the Act nor was having approval under...

8. Grant of approval for exemption u/s.10(23C)(vi) - AOP - Since the AOP is recognised as a "person" for the purpose of Income Tax Act, 1961 and Section 10(23C) of the Act...

9. Exemption u/s 11 / 10(23C)(vi) - Condonation of delay - There is no such provision nor there is any power to condone the delay after considering the reasonable reasons....

10. Rejection of Revision application u/s 264 - Exemption u/s 11 denied to assessee - benefits denied merely on the ground that the donor has deducted TDS u/s 194C and 194J...

11. Exemption u/s. 10(23C)(iiiab) - As per the CBDT circualr, the benefit of Sections 11/12 of the Act would be available to an assessee for a period prior to the year of...

12. Exemption u/s 11 denied - grant of approval under Section 10 (23C) (vi) denied - Trust Deed seems to indicate that the source of funds of the petitioner’s trust is only...

13. Exemption u/s10 (23C)(vi) denied - the petitioner exists solely for educational purposes and not for the purposes of profit - revenue directed to grant approval to the...

14. Denying exemption u/s 10(23C)(vi), 11 and 12 - There are several factual aspects, which have been missed out by the Assessing Officer to be taken into consideration and...

15. Violations of condition specified in section 11(5) of the Income Tax Act - exemption u/s 10(23C)(vi) - advance against purchase of property - application of income -...