There was an indirect benefit to Shri P. Subramani, Managing ...

Income Tax

August 2, 2013

There was an indirect benefit to Shri P. Subramani, Managing Trustee of the assessee - Trust and this fell clearly within the scope of Section 13(1)(c) r.w.s. 13(2)(a) Such violation did warrant denial of exemption claimed under Section 11 - AT

View Source

← Previous Next →

There was an indirect benefit to Shri P. Subramani, Managing ...

Income Tax

August 2, 2013

You may also like:

The interest free loan was given to another trust and the common trustee have no substantial interest in any of the trust. Therefore in the absence of any direct or...

Exemption u/s. 11 - The civil contract awarded to a firm in which the managing trustee of the trust is proprietor is tantamount to services as defined u/s. 13(2)(c) -...

Exemption u/s.11 - salary paid to the trustees - undue benefit - Basis adopted by the Revenue authorities for quantifying the undue benefit given to the aforesaid...

Black Money - Beneficial ownership - undisclosed foreign income/asset - The ITAT recognized that the investments were either made by the assessee's son or were explained...

Exemption u/s 11 - Disallowance of utilization fees - payment against equipment and assets owned by trustees, but used by trust - in absence of finding that utilization...

Section 13 does not debar the main whole-time trustee/trustees from meeting their basic needs from the funds of the institution/trust particularly when they are not...

Denial exemption U/s.11 & U/s.12 - if one of the trustees appointed is not competent to contract, he cannot be made as a trustee as rightly pointed out by the Revenue....

Registration u/s.80G - In the case of the assessee, Shri Sai Bhakta Seva Trust, the main object is to construct and maintain Shri Sai baba temple. This fact has not been...

Exemption u/s 11 - trustees have used property then trust - violation of provision of Section 13(1)(c) and 13 (1)(d) - The residential premises of the assessee trust are...

Exemption u/s 11 - Violation u/s 13(1)(c) - amount withdrawn from the assessee-Trust and held by one of the trustees for two days - It will not be reasonable to take a...

Quick Updates: