Accumulation of income of 15% u/s. 11(1)(a) - AO directed to ...

Income Accumulation to be Calculated on Net Receipts, Not Gross, u/s 11(1)(a) of Income Tax Act.

March 30, 2018

Case Laws Income Tax AT

Accumulation of income of 15% u/s. 11(1)(a) - AO directed to consider the net receipt (not the gross receipt) for the purpose of computation of accumulation of income of 15% u/s. 11(1)(A) - AT

View Source

← Previous Next →

Accumulation of income of 15% u/s. 11(1)(a) - AO directed to ...

Income Accumulation to be Calculated on Net Receipts, Not Gross, u/s 11(1)(a) of Income Tax Act.

March 30, 2018

Case Laws Income Tax AT

You may also like:

Exemption u/s 11 - Accumulation of income - whether 15% accumulation for application in future has to be calculated on gross receipt or net receipt after deduction of...

Rectification u/s 154 - Exemption u/s 11 - accumulation of income for charitable purpose - mistake apparent from the record - whether accumulation at 15% has to be...

ITAT ruled on income computation under Section 11(1) for a charitable trust manufacturing artificial limbs. Revenue generated from manufacturing activities qualifies as...

Exemption u/s 11 for surplus arising from a pharmacy store run by a hospital, and the deduction of 15% on gross receipts u/s 11(1)(a). Regarding the pharmacy store, it...

Exemption u/s 11- taxability of unregistered trust - AO has brought gross receipts to tax which is against the basic tenets of law where only the real income which is...

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

Total income u/s 2(45) versus Income u/s 11(1) - charitable institution - benefit of standard deduction under income from house property for the purpose of accumulation...

Exemption u/s 11 - The gross income is entered in the books of the assessee and accordingly reflected in final accounts. The gross income should be ascertained from...

Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

Exemption u/s 11 - Application of provisions of "Accumulation of income" for Notional Income (Rent) - the assessee has violated the provisions of section 13(1)(c) r.w.s....

Exemption u/s 11 - Accumulation of income - The money referred in Clause (b) (ii) is one accumulated or set apart. Meaning thereby that even if 85% of the income...

Revision u/s 263 by CIT - disallowance of exemption claimed in respect of accumulation of income u/s 11(2) - insofar as the impugned assessment year is concerned, there...

Revision u/s 263 - Accumulation of income u/s 11(2) - Deemed income accumulation - debatable issue - As categorically explained that deemed income charged u/s. 11(3) is...

Exemption u/s. 11(1)(d) - contributions received from students towards development and welfare funds of the school - voluntary contribution or otherwise - The ITAT...

Exemption u/s 11 - enhancing the addition - accumulation of income - it is the only profits and gains derived from the incidental business of the assessee...

Quick Updates: