Meaning of expression “such income” in section 11(1)(a) - the ...

Interpretation of "Such Income" in Section 11(1)(a) of Income Tax Law: Refers to Gross, Not Net, Income.

September 12, 2015

Case Laws Income Tax AT

Meaning of expression “such income” in section 11(1)(a) - the expression “such income” means gross income and not the net income after deducting the administrative expenditure. - AT

View Source

← Previous Next →

Meaning of expression “such income” in section 11(1)(a) - the ...

Interpretation of "Such Income" in Section 11(1)(a) of Income Tax Law: Refers to Gross, Not Net, Income.

September 12, 2015

Case Laws Income Tax AT

You may also like:

Penalty levied u/ss 271(1)(c) and 271AAA for unexplained investment and addition made by adopting net profit as per the books of accounts at 12.85% on the suppressed...

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

Exemption u/s 11 - claiming benefit of accumulation u/s 11(2) over deemed income u/s 11(3) - non application of income - the assessee should not be eligible to claim...

Interest u/s 234B - The term “assessed tax” has been defined in Explanation-1 of Section 234B (1). As per said Explanation-1 “assessed tax” means the tax on the total...

Exemption u/s 11- taxability of unregistered trust - AO has brought gross receipts to tax which is against the basic tenets of law where only the real income which is...

Undisclosed income declared not to be included in total income - THE INCOME DECLARATION SCHEME, 2016 - The amount of undisclosed income declared in accordance with...

The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

Exemption u/s 11 - Accumulation of income - The money referred in Clause (b) (ii) is one accumulated or set apart. Meaning thereby that even if 85% of the income...

Income Tax: Section 194-O of the Income Tax Act provides for deduction of tax at source (TDS) at the rate of 1% on the gross amount of sales or services facilitated by...

Penalty u/s 271B - no tax audit conducted u/s 44AB - bonafide belief - When Gross profit is more than Rs.4 crores, it means the Gross Receipts were definitely more than...

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

The Appellate Tribunal addressed the following issues: 1. Deduction u/s. 80P(1) r.w.s. 80P(2)(a)(i) - Held that the assessee is not a cooperative bank, making it...

Levy of Penalty u/s. 271(1)(c) - The ITAT ruled that since there was no variation between the returned and assessed income, there was no concealment of income by the...

₹ 1,10,828 crore GST Gross Revenue collected for January, 2020

Demand of service tax - Valuation - TDS deposited to the Income Tax department in relation to the payment made to the Foreign Service Provider - It can be seen from...

Quick Updates: