Exemption u/s 11 - since the net income as per expenditure ...

Income Below 15% Threshold: No Taxable Income Assessed; Additions by AO and CIT(A) Removed u/s 11.

November 30, 2018

Case Laws Income Tax AT

Exemption u/s 11 - since the net income as per expenditure account is much below the prescribed limit of 15%, therefore, no income is held to be taxable and consequently in all the years income has to be assessed at ‘nil’ and consequently the entire addition made by the AO and CIT(A) is directed to be deleted.

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Exemption u/s 11 - since the net income as per expenditure ...

Income Below 15% Threshold: No Taxable Income Assessed; Additions by AO and CIT(A) Removed u/s 11.

November 30, 2018

Case Laws Income Tax AT

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