Assessment u/s 153A - benefit of exemption u/s 11 - Bogus ...

Income Tax

August 12, 2021

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 on which tax can be collected from it in view of the provisions of section 10(23C)(vi) of the Act considering the approval granted to the appellant trust. - after giving effect to exemption under provisions of section 10(23C)(vi) there cannot be any income of the appellant trust which can be charged to tax as the total income of the Appellant society is exempted - AT

View Source

← Previous Next →

Assessment u/s 153A - benefit of exemption u/s 11 - Bogus ...

Income Tax

August 12, 2021

You may also like:

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...

Exemption u/s 11 - The Assessee did not claim benefit of exemption u/s.11 of the Act before the AO and the AO did not have the benefit of examining such a claim. Mere...

Exemption right u/s 11 & 12 - assessee society is registered u/s 12A - Addition u/s 69 - undisclosed income/Investment - it is an admitted fact that the assessee society...

Exemption u/s 11 - assessee has paid most of the scholarship amount to the students of a particular religious community which is a clear violation of Section 13(1)(b) -...

Exemption u/s 11 - Cancellation of registration u/s. 12AA post survey - Assessee contended that survey proceedings gets abated after search and assessment u/s 153A -...

Exemption u/s 11 - whether the objects of the trust were charitable? - The High court found that the issue of interpretation of Section 11 was covered by previous...

Exemption u/s 10(23C)(vi) denied - exemption u/s 11 and 12 denied - the exemption u/s 11 and 12 of the Act cannot be denied only on the basis of rejection of application...

Exemption u/s 11 - violation of the provision of Section 13(1)(c) on account of payment of remuneration to specified person - In the event of any violation of provision...

Exemption u/s 11 - retrospective effect - On registration of the Trust, benefit under Section 11 and 12 would be available to the assessee from the assessment year...

Revision u/s 263 by CIT - disallowance of exemption claimed in respect of accumulation of income u/s 11(2) - insofar as the impugned assessment year is concerned, there...

Exemption u/s 11 - benefit denied on delay in filling the audit report - The Appellate Tribunal acknowledged the delay in filing Form 10B but noted that the issue of...

Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

Exemption u/s 11 - Assessee has violated section 11(2)(b) r.w.s. 11(5) - Only the relevant income falling within the mischief of section 13(1)(d) of the Act will lose...

Exemption u/s 11 - disallowing of the amount of accumulation made u/s.11(2) & 11(1)(a) - failure to E-filing of Form-10 in time - since admittedly, the exemption of the...

Exemption u/s. 11 - filing of return of income belatedly - compliance of requirement of the Act will have to be at any time before the completion of assessment...

Quick Updates: