Entitlement to exemption u/s 11(2) - The memorandum of ...

Income Tax

November 9, 2015

Entitlement to exemption u/s 11(2) - The memorandum of association does not permit the profits to be distributed between the members. The profits are provided to be utilised for services of the public utility, would thus clearly fall and will qualify for exemption within the meaning of "charitable purpose", as defined in section 2(15) - HC

View Source

← Previous Next →

Entitlement to exemption u/s 11(2) - The memorandum of ...

Income Tax

November 9, 2015

You may also like:

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...

Entitlement for exemption u/s 10(23C)(vi) – Exemption u/s 11 – Deposits and donations added – Nature of the Institution – Educational OR profit motive - exemption allowed - AT

Exemption u/s 11 & 12 - charitable activity u/s 2(15) - The assessee trust does not distribute its profits among members and it does not pay higher remuneration to its...

Denial of exemption u/s 11 r.w.s. 2 (15) - It is no doubt true that the receipts from non-sporting activities earned by the assessee are covered under the proviso to...

Obligations mentioned u/s 11(2) fulfilled or not - assessee was to provide financial assistance to the members in case of death, retirement and permanent disability -...

Exemption u/s 11 and 12 - Amount deployed towards share capital of BARC pursuant to the policy of the Central Government and TRAI recommendations - BARC, being a not for...

Revision u/s 263 - deduction /exemption u/s 10(24) - Assessee is not a business entity and does not work for profit. It is an association for the welfare of certain...

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...

Jurisdiction u/s 263 of the Act – Exemption u/s 11 and 12 - action of the assessing authority in treating the assessee as an association of persons - HC

Exemption u/s 11 - applicability of the principle of mutuality - holding of exhibitions and organising of seminars - As per the assessee, the income from members is...

Quick Updates: