Refusal of exemption u/s 10(22) - the acquisition of property in ...

Income Tax

February 28, 2019

Refusal of exemption u/s 10(22) - the acquisition of property in the name of individuals is indicative of the fact that the profits of the institution was being used for self aggrandizement; which is the explicit motive. The explanation that the property was inadvertently purchased in the name of individuals by an innocuous mistake, can only be taken with a pinch of salt.

View Source

← Previous Next →

Refusal of exemption u/s 10(22) - the acquisition of property in ...

Income Tax

February 28, 2019

You may also like:

Exemption under section 10(22) of the Income-tax Act, 1961 - Scope of the word "education" used in Clause 15 of section 2 of the Act of 1961 - HC

Exemption 10(37) - acquisition of the urban agricultural land as a compulsory acquisition - - merely because the sale price was fixed through a negotiated settlement,...

Deemed dividend u/s.2(22)(e) - business advance in the hands of the assessee (Director) to purchase the property on behalf of Company - Matter remanded back to AO only...

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 10(37) - Assessee has received compensation on compulsory acquisition of urban agricultural land - Once sufficient material is placed that land was...

Charitable activity - The explanation that the property was inadvertently purchased in the name of individuals by an innocuous mistake, can only be taken with a pinch of salt.

Exemption u/s 10(37) - the entire procedure prescribed under the Land Acquisition Act was followed, only price was fixed upon a negotiated settlement - benefit of...

Disallowance of interest expenses – partners are entitled to hold the properties belonging to the partnership firm in their individual name, provided it is explicitly...

Exemption u/s 10(23C)(iv) - Charitable Institution u/s 2(15) - Nature of education and the conduct of the courses by the ICAI - exemption allowed - HC

Exemption from long term capital gains (LTCG) u/s 54F - Construction or acquisition of property - earlier structure was demolished and new construction was made on the...

Quick Updates: