Entitlement to exemption u/s.11 and 12 - The assessee is ...

Income Tax

August 18, 2015

Entitlement to exemption u/s.11 and 12 - The assessee is availing loans from banks and advance the same and admitted that it has advanced the loans to the customers at 13%. It is a commercial rate prevailing in the market - exemption denied - AT

View Source

← Previous Next →

Entitlement to exemption u/s.11 and 12 - The assessee is ...

Income Tax

August 18, 2015

You may also like:

Income recognition - advances received from customers - the customers advances carried over year after year and it is the consolidated list of advances as on balance...

Exemption u/s 11 - advancing a loan to another charitable trust - nothing has been brought on record to establish that the common trustees have substantial interest in...

Activities are meant for general public utility, i.e. whoever wants to advance his/her qualifications in the banking industry - assessee is a charitable organization and...

Addition u/s 68 - unsecured loan - ITAT, turning a blind eye, has erred in holding that, assessee has discharged his onus merely because the money was advanced through...

Source of Cash deposited into the Bank Account - Agricultural income - advances received from customers in land transactions - CIT(A) ought to have considered the...

Adjustment made to the income returned in the intimation made by the CPC u/s 143(1) - exemption u/s 11/12 denied as assessee had failed to furnish the necessary Form 10B...

Violations of condition specified in section 11(5) of the Income Tax Act - exemption u/s 10(23C)(vi) - advance against purchase of property - application of income -...

Valuation - works contract composition scheme - inclusion of advance termed as mobilisation advance from their customer - matter remanded back - AT

Validity of Reopening of assessment - not charging interest @ 12% on the loans advances - Only because the assessee company did not charge the advance made to the other...

Deemed dividend u/s 2(22)(e) - assessee is a major share holder in loan granting company - Advance given for purchase of property - The words “loans or advances”...

Quick Updates: