Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2015 Year 2015 This

Claim of exemption under section 11 denied - interest free loan ...

Income Tax

June 19, 2015

Claim of exemption under section 11 denied - interest free loan given by the assessee society to another society with identical object cannot be treated as “investment” or “deposit” in which event there is no violation of section 13(1)(d) r.w.s. 11(5) - AT

View Source

 


 

You may also like:

  1. Benefit u/s 11 an 12 - Loan given to society not registered u/s 12AA - Where both the societies have similar objects and are registered under Section 12AA and have...

  2. Interest free advances and loans given to directors & sister concerns for non business purposes - Assessee had interest free funds of its own basis which addition u/s...

  3. The objects of the assessee society are not in respect of educational purposes because the same amounts to rendering consultancy services - exemption u/s 10(23C)(vi) was...

  4. Exemption u/s 11 - promotion and development of the game of Cricket - proviso to section 2(15) is invoked in the case of the assessee as the activities of the assessee...

  5. Exemption u/s 11 - Charitable Purpose - Plastic Waste Management - Expenditure of multi-layered plastic collection and disposal charges for members are the only major...

  6. Exemption u/s 11 - addition on account of hostel surplus fee received by the assessee - ‘providing hostel to the students/staff working for the society is incidental to...

  7. Deduction u/s.11 on profits earned out of training and consultancy - the same was incidental to the attainment of the objects of the assessee society, which are...

  8. Eligibility to claim of exemption u/s 11 - justification of incurrence of certain expenses - payments made by the assessee Society to its members have not been shown to...

  9. Claim of exemption u/s 11 - AO’s observations that assessee changed the memorandum of association so that fresh registration is required does not hold good where the...

  10. Addition of interest attributable on the diversion of loan fund - Once own fund of the assessee exceeds the amount of interest free loans and advances, then a...

 

Quick Updates:Latest Updates