Exemption u/s.10(23)(vi) - The assessee-trust does not have ...

Income Tax

January 21, 2023

Exemption u/s.10(23)(vi) - The assessee-trust does not have profit motive, the small profit generated while carrying out charitable activities, does not mean that assessee is engaged in the commercial activities. Such small profit so earned is again utilised for charitable activities by the assessee-trust - assessee-trust deserves certificate, u/s 10(23C) (vii) - AT

View Source

← Previous Next →

Exemption u/s.10(23)(vi) - The assessee-trust does not have ...

Income Tax

January 21, 2023

You may also like:

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 11 - the assessee is registered as a public charitable trust and the assessee carried only religious activities and no charitable activities are carried...

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...

Exemption u/s 11 - Profit motive - commercial activities as hit by the proviso to Sec. 2(15) - The majority of rent received by the assessee include rental from marriage...

Exemption under Section 10 (23C) (vi) refused - if surplus is generated year after year, it cannot be said to be existing solely for educational purposes - exemption denied - HC

Deduction u/s 10(23C) – activities of the Board for educational purposes - profit motive - huge profits and surplus income - benefit of exemption denied - AT

Exemption u/s 11 - Charitable activity - exemption cannot be denied merely on the ground that, earlier the approval u/s 10(23C)(vi) was rejected.

Denial of exemption u/s 10(23C)(vi) - CIT(E) observed the huge surplus which indicates that the activities are conducted with the motive of profit. - even if for any...

Exemption u/s 11 / 10(23C)(vi) - Charitable activity u/s 2(15) - trust seeking approval as existed ‘solely’ for educational purposes - It is held that the requirement of...

Exemption u/s 10(23C)(vi) – mere existence that there is some profit does not disqualify the petitioner if the sole purpose of existence was not profit making but...

Quick Updates: