Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Registration u/s 12AA - generation of surplus - nothing is ...


Income Tax Act Section 12AA: Society Denied Registration Due to Surplus Generation Misinterpretation, Despite Reinvestment in Education Goals.

August 19, 2019

Case Laws     Income Tax     AT

Registration u/s 12AA - generation of surplus - nothing is discernible from the records of the lower authorities which would irrefutably prove that generation of such surplus and not rendering of the education was the predominate object of the assessee society - once surplus generated had been ploughed back by the assessee society for the furtherance of its object, CIT(E) had erred in declining to grant registration

View Source

 


 

You may also like:

  1. Co-operative Housing Society declared income from maintenance charges under 'Income from other sources' with deficit of Rs. 13,86,671/-. Rental and interest income also...

  2. Taxability of amount received for specific purpose - Revenue Authorities have not disputed the contributions received but denied the exemption only due to the fact that...

  3. ITAT denied exemption u/ss 11/12 to the society for failing to file income tax return as mandated by section 12A(1)(b). Despite non-filing of return, ITAT directed...

  4. Registration u/s 80G(5)(vi) - charitable activities and utilization of funds - deduction from total income on donations to be made available to donors based on such...

  5. Share income received from the Society - Society has claimed deduction u/s 80IAB, hence not suffered any tax - Since the income of the society was taxed separately as...

  6. The Karnataka High Court addressed the issue of a Sub-Registrar refusing registration of a sale certificate due to pending Income Tax dues against the borrowers. The...

  7. Registration u/s 12AA denied - huge cash balances, generation of huge surpluses in the past and non-furnishing of bank statements, which are essential elements to verify...

  8. 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...

  9. The Income Tax Appellate Tribunal (ITAT) held that the provisions of Section 13(1)(b) of the Income Tax Act can be invoked at the time of assessment, based on the...

  10. Deduction u/s 80P(2) on interest income - To invest the deposits accepted from the members or the surplus funds available with it, is part of the banking/credit business...

  11. Investment of surplus fund by a coop society, no deduction u/s 80P – Supreme Court

  12. Exemption u/s 10 (23C) (vi) - generation of surplus from year to year - the court referred to precedents and a clarificatory circular issued by the Ministry of Finance....

  13. Charitable Society - cancellation of registration on ground that Society is indulged in taking Forcible Donations - DIT (E) was not justified in cancelling the...

  14. The HC held that a Society registered under the Andhra Pradesh Societies Registration Act, 2001 does not qualify as an 'Association of Persons' u/s 94(1) of the...

  15. The notification amends the Income-tax Rules, 1962 by modifying Form No. 10A and Form No. 10AB related to registration u/ss 12A and 80G of the Income-tax Act, 1961. Key...

 

Quick Updates:Latest Updates