If at the commencement of the society, its objects are for ...

Society's land investment aligns with educational goals; proceeds donated to similar society. Is this beyond educational scope?

November 5, 2014

Case Laws Income Tax AT

If at the commencement of the society, its objects are for educational purposes and its investment in the land was not considered as unexplained investment and treated for advancement of educational objects then, how on sale of that plot and giving a corpus donation to a similar society as per the aims and objects, can be without educational purposes - AT

View Source

← Previous Next →

If at the commencement of the society, its objects are for ...

Society's land investment aligns with educational goals; proceeds donated to similar society. Is this beyond educational scope?

November 5, 2014

Case Laws Income Tax AT

You may also like:

Unexplained investment in land purchase - society's purchase in its name or trustees' names - CIT(A) considered money not paid by society from income but sourced from...

Long Term Capital Gains - Sale of society flat - proportionate portion of land in the society - As per the sale deed, it is clear that assessee gets a membership on the...

TP adjustment - Arms’ length price of international transaction of overdue export proceeds - non-charging of interest on advances being overdue export proceeds from...

Correct head of income - LTCG OR Business income - engaged in the business of building construction and land developers - land shown in balance sheet as investment - it...

Investment of surplus fund by a coop society, no deduction u/s 80P – Supreme Court

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 11 - proof of hostel facilities as object of educational activities performed by the society - charitable activity u/s 2(15) - providing of hostel...

Exemption u/s 11 - the immovable property was sold and the amount of the sale proceeds were donated to the corpus of the other charitable society/trust. Section 11(1)(a)...

Undisclosed investment u/s.69 - Since, the partnership deed is subsequent to the date of purchase of land, the partnership firm by no means could have made investment...

This circular amends the Master Circular for Real Estate Investment Trusts (REITs) to promote ease of doing business. Regarding investor complaints, the requirement for...

The High Court upheld the Tribunal's decision allowing deduction u/s 80P(2)(d) of the Income Tax Act to the assessee, a cooperative society, on the interest income...

Deduction of interest expenditure incurred on borrowed funds u/s 57 - Interest incurred on borrowed funds utilized for making investment in shares in company of...

Deduction u/s 80P(2) on interest income - To invest the deposits accepted from the members or the surplus funds available with it, is part of the banking/credit business...

Correct head of income - sale of land - “capital gains” or “business income” - In the present case, undisputedly the appellant had made a distinction between those lands...

Deduction u/s 54B - capital gain on sale of one agricultural land - investment made in two agricultural land - deduction is not allowable in respect of two separate...

Quick Updates: