Charitable purpose - purchase of a BMW car, borrowing of loans ...

Entity's Educational Purpose Questioned Amid Financial Activities and Section 13(1)(c) Violations in Trustees' Salaries.

November 16, 2012

Case Laws Income Tax AT

Charitable purpose - purchase of a BMW car, borrowing of loans from Sindhi Financiers, non-maintenance of regular books of accounts, violations of provisions of Sec.13(1)( c) of the Act in as much as the trustees were paid enormous salary are all by way of passing reference having no relevance to whether or not the Assessee was pursuing education as its main object. - AT

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Charitable purpose - purchase of a BMW car, borrowing of loans ...

Entity's Educational Purpose Questioned Amid Financial Activities and Section 13(1)(c) Violations in Trustees' Salaries.

November 16, 2012

Case Laws Income Tax AT

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