Home Highlights January 2015 Year 2015 This

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1. Exemption u/s 11 was not claimed in original return due to auditor's mistake in Form No. 10B. Assessee rectified mistake by filing revised Form No. 10B. Statutory claim...

2. Validity of assessment passed w/o intimating u/s 143(1) - Denial of exemption u/s 11 and Claim of Expenses by the CPC - The Appellate Tribunal noted that the return of...

3. Exemption u/s 11 - eligibility for exemption u/s 12A - educational institution - The Tribunal lost sight of the distinction between a claim for registration under...

4. Denial of exemption u/s 11 & 12 - ‘Charitable Purpose’ as defined u/s. 2(15) - The mere fact that certain fee was charged by the assessee while rendering certain...

5. Exemption u/s 11 - The Assessee did not claim benefit of exemption u/s.11 of the Act before the AO and the AO did not have the benefit of examining such a claim. Mere...

6. Revision u/s 263 - eligibility to Exemption u/s 11 - The assesse’s claim of exemption of its entire income has remained unchanged and unrevised. What has only changed is...

7. Provision for warranty expenses computed on basis of past experience and scientific basis is allowable. Assessee applied formula for provision though no past history was...

8. Denial of exemption u/s 11(2) was contested due to the trust's failure to file Form No. 10 within the due date specified u/s 139(1) owing to technical issues. The...

9. Corpus donations, being distinct from incomes derived from trust property, are granted exemption separately u/s 11(1)(a) and 11(1)(d) of the Act. There is no overlapping...

10. Exemption u/s 11 - assessee has not e-filed or not filed return within due date - The NFAC/Ld.CIT(A) ruled in favor of the Assessee, stating that the CBDT circular...

11. Denial of claim of loss or to categorize certain expenses as pre-operative expenses - commencement of business during the year - assessee’s business was ‘set up’ or not...

12. Rejection of Revision application u/s 264 - Exemption u/s 11 denied to assessee - benefits denied merely on the ground that the donor has deducted TDS u/s 194C and 194J...

13. The case involved denial of exemption u/s 11 due to late filing of return. The department argued return must be filed u/s 139(1) to claim exemption u/s 11. An amendment...

14. Disallowance of various expenses on ad hoc basis - While scrutinizing the expenditure if the expenses claimed are not having any nexus to the business of the assessee or...

15. Claim of exemption u/s 10(23EC) as well as exemption u/s 11 - contribution received from recognized stock exchange and the members - Prior to 1-4- 2024 there was no bar...