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:

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...

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...

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...

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...

Exemption u/s 11 - applicability of Section 2(15) - addition on account of premium on land and shades - it could not be said that the activities carried out by the...

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...

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 to exemption u/s.11 - Assessee does not driven primarily by desire or motive to earn profits but to do charity through advancement of an object of general...

Benefit of exemption u/s 11/12 - no material which could suggest that the assessee association has deviated from its objects which it has been pursuing since past many...

Exemption u/s 11 - Section 11(4A) must be interpreted harmoniously with Section 2(15), with which there is no conflict. Carrying out activity in the nature of trade,...

Assessment of trust - Application of Maximum Marginal rate @ 30% - To be treated as AOP u/s 164 or not - As such subsection (2) of section 164 of the Act provides to...

Exemption u/s 11(2) - pursing these valid objects of general public utility through lawful statutory schemes cannot be considered as business activity, and, as a...

Entitlement for exemption u/s 11(2) - assessee having failed to furnish Form No.10 before the completion of the assessment, the benefit under the provisions of Section...

Rectification u/s 154 - Exemption u/s 11(2) - Accumulation of income - The Appellate Tribunal found merit in the appellant's contention regarding the amount to be...

Quick Updates: