Exemption of income under the provision of Section 11 denied - ...

Income Tax

July 16, 2015

Exemption of income under the provision of Section 11 denied - proviso to Section 2(15) of the Act cannot be applied to the appellant society as it is not engaged in any activity which are in the nature of trade, commerce and business - AT

View Source

← Previous Next →

Exemption of income under the provision of Section 11 denied - ...

Income Tax

July 16, 2015

You may also like:

Exemption u/s 11 - The interest earned on fixed deposit with banks complying with the provisions of Section 11 (5) is exempt and the proviso to Section 2( 15) has no application

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...

Benefit of exemption u/s 11 denied - profit motive - Association of leather merchants - AO has not disputed the conditions necessary for allowing exemption u/s.11 of the...

Entitlement to exemption u/s 11 - there is no change in the aims and objects of assessee in the impugned AY and the activities of assessee over the years remains the...

Charitable activity u/s 2(15) - Mere selling some product at a profit will not ipso facto hit assessee by applying proviso to Section 2(15) and deny exemption available...

Exemption u/s 11 - claim denied relying on Principle of mutuality - quite clearly the object of the appellant trust is to promote education in the field of science of...

Exemption u/s 11 - proviso to section 2(15) is invoked - by incurring such expenditure by way of grants to the district cricket association, the assessee society is...

Exemption u/s 11 - charitable purposes u/s 2(15) or not? - The Tribunal held that, mere selling some product at a profit will not ipso facto hit assessee by applying...

Exemption u/s 11 - proof of charitable activities - receipts from the business of upgrading the local indigenous low milk yielding cattle by cross breeding them with the...

Benefit of exemption u/s 11 - assessee fell under the last limb of Section 2(15) - The assessee/society is running a printing press and publishing a newspaper. The...

Quick Updates: