TMI BlogCapitation fees collected in cash, not recorded in accounts, violate Section 13(1)(c), affecting Section 11 tax exemption.Exemption u/s 11 - the cash (capitation fees) which has been collected by the assessee has not been recorded in the books of the assessee but has been kept outside the regular books - during search cash was not found either of the premises of the assessee or in the hands of the Managing Trustees - deemed to be used in violation of Sec. 13(1)(c) ..... X X X X Extracts X X X X X X X X Extracts X X X X
|