Home Highlights November 2011 Year 2011 This

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1. The case pertains to the exemption u/s 10(23G) for long-term capital gains arising from the purchase of shares for creating infrastructure facilities. The key points...

2. Exemption u/s 10(23G) – infrastructure capital company - exemption of interest income - investment in bonds of SSNNL and GIPCL - the assessee was entitled to exemption...

3. Exemption u/s 10(23G) - whether Banking company to be considered as Infrastructure capital funds/company - It is not necessary that the ‘infrastructure capital company’...

4. Assessee's claim for exemption u/s 10(35) was rejected by CPC while processing return u/s 143(1)(a), which attained finality as assessee failed to challenge it before...

5. Constitutional validity the Explanation to Clause (26AAA) - three categories of individuals entitled to the benefit - the Explanation has to be saved from being in...

6. Gratuity exemption u/s Section 10(10)(iii) - exemption limit raised to ₹ 25 lakhs

7. Exemption u/s 10(20) - scope of the term "local authority" - NOIDA - the appellant is not covered by the definition of local authority as contained in Explanation to...

8. Exemption u/s 10(23C)(iiiab) - grant from Government is in excess of 50% of its total receipts - scope of explanation inserted by Finance Act, 2014 defining...

9. Exemption u/s 10(10D) on the maturity value of the Keyman Insurance Policy - Assessee received the amount on maturity of Keyman Insurance Policy after coming into effect...

10. Exemption u/s 10(26) - denial of exemption relief to the two partnership firms that was formed by two tribal individuals - sec. 10(26) pre-possess “any person” who is...

11. Exemption claimed u/s 10(10)(i)- arrear of gratuity received from the State Government after retirement - assessee to be entitled to exemption u/s 10(10)(i) in respect...

12. Exemption u/s 10(38) - LTCG - general insurance business - In the present assessment year the ld AO has himself allowed exemption u/s 10(15)(iv)(h) of the Act in regard...

13. Rejected damaged paddy is classified under HSN 1006 10 90, not 1006 10 10, as it lacks characteristics of seed quality cereal crop and is unfit for human consumption....

14. Exemption from specified income U/s 10(46) – ‘Godavari River Management Board, Hyderabad’ notified - Notification

15. Exemption of leave encashment u/s 10(10AA)(ii) - AO directed to allow 100% exemption of leave encashment received on account of employment with Department of...