Home Highlights May 2015 Year 2015 This

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1. Denial of exemption u/s 10(23C)(vi) - CIT(E) observed the huge surplus which indicates that the activities are conducted with the motive of profit. - even if for any...

2. Exemption u/s 10 (23C) (vi) - generation of surplus from year to year - the court referred to precedents and a clarificatory circular issued by the Ministry of Finance....

3. Exemption u/s. 10(23C)(vi) - Assessee Trust having multiple objects cannot be said to be existing “solely for the purpose of education”. It is open to the trust to...

4. Grant of approval u/s 10(23C)(vi) denied - The claim being inadmissible in the preceding years on account of receipts exceeding a specified limit, surely does not...

5. Exemption u/s10 (23C)(vi) denied - the petitioner exists solely for educational purposes and not for the purposes of profit - revenue directed to grant approval to the...

6. Eligibility of exemption u/s Sec.10(23C)(vi) - the petitioner had multiple objectives and therefore, did not exist solely for educational purpose - assessee does not...

7. Approval for exemption u/s 10 (23C) (vi) denied - existing solely for the educational activities or not - If the surplus is utilized for educational activities then it...

8. Application for exemption u/s 10(23C)(vi) - existence of surplus / profit - it will not cease to be one existing solely for educational purposes since the object is not...

9. Exemption u/s 10(23C)(vi) - there has been no exercise done by the Department either at first instance or at least on review petition to find out as to whether the Trust...

10. Exemption u/s 10(23C)(iiiad) - The income generated from the activity of running the school is substantially going in the hand of the commercial entities under...

11. Condone delay in fling the application for exemption u/s 10(23C)(vi) - We feel that even at this stage petitioner may approach CBDT under section 119(2)(b) seeking a...

12. 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...

13. Certificate under Section 10(23C)(vi) refused - certificate under Section 12A already issued - petitioner institution is established for the sole purpose of imparting...

14. 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...

15. 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...