Benefit of exemption u/s 11 denied - profit motive - Association ...

Income Tax

December 17, 2015

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 Act, except the applicability of proviso to Sec.2(15) - the said proviso is not applicable to the case of the Assessee - exemption allowed - AT

View Source

← Previous Next →

Benefit of exemption u/s 11 denied - profit motive - Association ...

Income Tax

December 17, 2015

You may also like:

Deduction u/s 10(23C) – activities of the Board for educational purposes - profit motive - huge profits and surplus income - benefit of exemption denied - AT

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 - Trust - it was alleged that the principle activity of the assessee trust was letting out the auditorium with clear profit motive - allegation has not...

Claim of exemption u/s 11/12 - sponsorship contract with Samsung India Electronics Pvt. Ltd - there was no material which may suggest that the assessee association was...

Rejection of Revision application u/s 264 - Exemption u/s 11 denied to assessee - benefits denied merely on the ground that the donor has deducted TDS u/s 194C and 194J...

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

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...

Exemption u/s 11 - Profit motive - commercial activities as hit by the proviso to Sec. 2(15) - The majority of rent received by the assessee include rental from marriage...

Exemption u/s 11 - receipts from the business of developing, coordinating plants and implementing the rail infrastructure projects, etc. for Indian Railways, exceeded...

Exemption u/s 11 - mutual trade association having the main object to safeguard the interest of the industry and trade - Assessing Officer erred in invoking proviso to...

Quick Updates: