Home Highlights February 2014 Year 2014 This

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1. 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...

2. Approval u/s 10(23C)(v) - Assessee does not have any approval under section 10(23C)(v) of the I.T. Act for the assessment year under appeal, therefore, there is no...

3. Eligibility for exemption u/s 10(23C) (iiiab) - The assessee is not entitled for exemption either u/s 11 or u/s 10(23C) in case it collected any money by whatever name...

4. Exemption u/s10(23C)(iiiad) – when the assessee has been granted exemption u/s 10(22) with the same objectives, the assessee has to be granted exemption u/s...

5. Exemption u/s 10(23C) (iiiad) - If the corpus fund is excluded, the balance aggregate annual receipt of the assessee’s educational institution would be less than ₹...

6. Exemption u/s 10 (23C) (vi) - generation of surplus from year to year - the court referred to precedents and a clarificatory circular issued by the Ministry of Finance....

7. Exemption u/s 11 - Since the assessee has been claiming exemption u/s.10(23C) in the earlier years therefore during the year under consideration there is high...

8. 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...

9. Disallowance of exemption claimed u/s 10(23C)(iiiab) - imparting education - there is no change in the facts and circumstances of the case as regard retention of...

10. Benefit of the provisions of Section 10 (23C)(iiiab) - There is a sweeping difference in according the any assessee to the provisions of Section 12AA and Section...

11. Exemption u/s 11 - Violation of section 13 - Surplus fund not applied for charitable purpose - accumulation of funds - AO directed to o grant exemption to the assessee...

12. Exemption u/s 10(23C)(vi) - Commissioner was of the opinion that the activity of the respondent-assessee cannot be said to be solely for imparting the education and,...

13. Claim of exemption u/s. 10(22) and section 10(23C)(vi) - The respondents have not substantiated their bald statement that ASB/the petitioners have not invested the...

14. Denial of exemption u/s 10(23C)(vi) - CIT(E) observed the huge surplus which indicates that the activities are conducted with the motive of profit. - even if for any...

15. Exemption u/s. 10(23C)(iiiad) - even if the assessee has not deposited the TDS on the payment of rent, but if the assessee has satisfied the requirement of section...