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Income Tax - Highlights / Catch Notes

Home Highlights November 2018 Year 2018 This

Exemption u/s 11 - the assessee trust is entitled to set off of ...

Income Tax

November 20, 2018

Exemption u/s 11 - the assessee trust is entitled to set off of excess expenditure of earlier years in subsequent assessment years as application of income.

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  3. Carry forward of the loss - loss as claimed by the assessee treating the same as excess application of loss u/s.11 - set off allowed - AT

  4. Assessment of trust - Exemption u/s 11 - The expenditure, if incurred in an earlier year is adjusted against the income of a later year, it has to be held that the trust...

  5. Exemption u/s 11 - entitled for registration u/s 12AA - there was no bar in granting registration to trust, even if the trust has both charitable as well as religious objects - HC

  6. Exemption u/s 11 - The expenditure, if incurred in an earlier year is adjusted against the income of a later year, it has to be held that the trust had incurred...

  7. Assessment u/s 153A - Exemption u/s 11 - Carry forward of the deficit being excess of expenditure over income to the subsequent years - the Hon’ble Supreme Court has...

  8. Exemption u/s 11 - section 2(15) Applicability - Carry forward and set off of unabsorbed deficit - the assessee is entitled to claim set off of brought forward excess...

  9. 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...

  10. Set off of loss suffered in a unit entitled for exemption under Section 10B against income from any other unit not eligible for such exemption - not allowed - HC

 

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