The case pertains to denial of exemption u/s 11 due to alleged ...

Society wins tax appeal! Tribunal says society exempt from sec.13 rules. CBDT Circular supports decision. Assessing Officer's disallowance void.

July 4, 2024

Case Laws Income Tax AT

The case pertains to denial of exemption u/s 11 due to alleged violation of provisions of section 13(1)(c). The Appellate Tribunal held that as the society is notified u/s 10(23C)(iv) and registered u/s 12A(a) of the Act, the conditions u/s 13 do not apply, as per CBDT Circular No. 557, dated 19.03.1990. Therefore, the Assessing Officer cannot disallow u/s 11. The Tribunal found no infirmity in the CIT(A)'s order allowing the appeal, leading to the dismissal of the Revenue's appeal.

View Source

← Previous Next →

The case pertains to denial of exemption u/s 11 due to alleged ...

Society wins tax appeal! Tribunal says society exempt from sec.13 rules. CBDT Circular supports decision. Assessing Officer's disallowance void.

July 4, 2024

Case Laws Income Tax AT

You may also like:

The ITAT reviewed a case regarding the exemption u/s 11 of the Act concerning non-charging of interest on advances for property purchase. The Assessee's society extended...

Recovery of CENVAT Credit - capital goods - availability of credit when the production started become dutiable - even if the goods per se were exempted during the...

All Industry Rates of Duty Drawback 2012-13 - Reg. - Circular

Registration u/s 12AA - Applicant Society has the objects of charitable in nature with main object to utilize the resources of society for propagation of education, to...

New Rules - Companies (Significant Beneficial Owners) Rules, 2018 came into force w.e.f. 13.6.2018

The State has no authority to frame a rule providing for cancellation of validly issued declaration form/form-C - Rule 17(20) of the Rajasthan Rules is declared ultra...

Entitlement to exemption u/s 11 - there is a violation of sec. 13(1)(c) of the Act as the assessee invested funds in a limited company where the trustee is the Managing...

Revision u/s 263 - AO treated assessee taxpayer as a “cooperative society” registered u/sec.2(19) - The Revenue argues that the assessee is not a "cooperative society"...

Charitable Institution - alleged violation of Section 13(1)(c)(ii) read with Section 13(3) on belief that society was for the private benefit of the members - HC

Allowability of deduction u/s 80P(2)(d) for interest income from deposits/investments in a cooperative bank by a cooperative society. The assessee, a cooperative society...

Return of changes in shareholding position of promoters and top ten shareholders - Omission of Rule 13 of the Companies (Management and Administration) Rules, 2014 w.e.f. 13.6.2018

The CBDT has notified "The Delhi Building and Other Construction Workers Welfare Board" for exemption under section 10(46) of the Income-tax Act, 1961. The specified...

Right of the auction purchaser of the property - Right of the Defaulter of Loan / Borrowers to redeem the secured property - in accordance with the unamended Section...

Capital gain - real owners of property/asst - 13 members of this society are the owners of the capital asset - Capital gain shall always be chargeable to tax only in the...

CENVAT Credit - exempt goods - On merits, it is a case that the appellant is manufacturing dutiable goods not exempted goods. Some clearances were exempted from payment...

Quick Updates: