Home Highlights April 2014 Year 2014 This

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1. Exemption to be allowed u/s 10(23C)(vi) or section 11 – assessee claimed exemption u/s 11 – AO was under obligation to allow exemption u/s 10(23C)(vi) and there is...

2. Assessment u/s 153A - benefit of exemption u/s 11 - Bogus purchases - even if the benefits of section 11 is denied than too there can be no income of the appellant trust...

3. Exemption u/s.10(23C)(vi) - payment of lease rent to trustees of the trust - ld. CIT(E) had stated that this payment of lease rent is in violation of provisions of...

4. Exemption u/s 10(23C)(vi) denied - exemption u/s 11 and 12 denied - the exemption u/s 11 and 12 of the Act cannot be denied only on the basis of rejection of application...

5. Benefit of exemption - Approval u/s 10(23C)(vi) was granted to trust as a whole or for specified institution only - We are in complete agreement with the ld....

6. Exemption u/s 11 / 10(23C)(vi) - Condonation of delay - There is no such provision nor there is any power to condone the delay after considering the reasonable reasons....

7. 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.

8. Withdrawal of exemption granted u/s 10(23C)(iv) - DGIT(E) erroneously drew a distinction between corpus and non-corpus donations made by it to HNF - Hamdard’s is not...

9. Exemption u/s 10(23C)(vi) - educational society - collection of donations from pupils - exemption not allowed - HC

10. Exemption u/s 11 - Deduction u/s 10(23C) - allowability of depreciation - since the AO has failed to examine the claim of the assessee for exemption u/s 10(23C), 11, 12...

11. Allowability of exemption u/s 10(23C)(vi) - Allegatin that, assessee Society has continued to divert its funds towards non-educational activities by way of huge advances...

12. If donations are received compulsorily for the admission of students, the assessee would not be entitled for exemption either under S.10(23C) or under S.11 of the Act - AT

13. Exemption u/s 10(23C) – If donations are received compulsorily for the admission of students, by whatever name it may be called, the assessee would not be entitled for...

14. Eligibility for exemption u/s 10(23C) (iiiab) - The assessee is not entitled for exemption either u/s 11 or u/s 10(23C) in case it collected any money by whatever name...

15. Violations of condition specified in section 11(5) of the Income Tax Act - exemption u/s 10(23C)(vi) - advance against purchase of property - application of income -...