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Income Tax - Highlights / Catch Notes

Home Highlights February 2015 Year 2015 This

Registration under Section 12A cancelled - Mere selling some ...


Section 12A Registration Cancellation: Profit Allegations Don't Automatically Disqualify Exemption u/s 11.

February 9, 2015

Case Laws     Income Tax     AT

Registration under Section 12A cancelled - Mere selling some product at profit (as has been the allegation of the revenue) will not ipso facto hit the assessee by applying proviso to Section 2(15) and deny exemption available under section 11. - AT

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