GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (9) TMI 449 - KARNATAKA HIGH COURT

2015 (9) TMI 449 - KARNATAKA HIGH COURT - TMI - Exemption u/s 11 and 12 - whether status of the assessee should be taken as "Trust" as against AOP adopted in the assessment order - whether "borrowed capital" needs to be taken into consideration while deciding whether shares held by the trust exceeds 5% of the share capital of the company or not? - Held that:- As decided in Commissioner of Income Tax –vs- M/s.Islamic Academy of Education [2015 (9) TMI 450 - KARNATAKA HIGH COURT] exemption u/s 11 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ri K.V.Aravind, learned counsel for the appellants and Sri S.Parthasarthi, learned counsel for the respondent and perused the record. 2. This appeal has been ADMITTED on the following questions of law: "1. Whether the Appellate Authorities were correct in law in directing in revenue s appeal that the status of the assessee should be taken as "Trust" as against AOP adopted in the assessment order, without appreciating that the assessee has contravened the provisions of section 11(5 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

if the investments of persons mentioned in section 13(3)(d) and also of "relative" of trustees/authors etc., as per Explanation 1 below Section 13(7) of the Act are taken into consideration? 3. Whether the Appellate Authorities were right in law in holding that "borrowed capital" needs to be taken into consideration while deciding whether shares held by the trust exceeds 5% of the share capital of the company or not? 4. Whether the Appellate Authorities were correct in law i .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version