Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2015 Year 2015 This

Exemption u/s 11 - Charitable activity u/s 2(15) - Addition on ...


Entity's Income from Samudaik Bhawan and Fitness Centre Deemed Charitable, Exempt under Income Tax Act Section 11.

October 12, 2015

Case Laws     Income Tax     AT

Exemption u/s 11 - Charitable activity u/s 2(15) - Addition on account of income from Samudaik Bhawan after allowing expenses - use of Samudaik Bhawan and Fitness Centre and receipts of charges/fees therefrom cannot be held as an activity in the nature of trade, commerce or business or rendering of any service in relation to trade, commerce or business - AT

View Source

 


 

You may also like:

  1. This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

  2. Charitable activities or not - GST on the amounts received in the form of Donation / Grants from various entities including Central Government and State Government - the...

  3. The CBDT has issued a circular which addresses conditions under which income from specific funds, trusts, institutions, universities, educational, or medical...

  4. Exemption u/s 11 - Charitable activity u/s 2(15) - Commercial activity - Citing past decisions favorable to the trust under similar assessments, the Tribunal reiterated...

  5. Exemption u/s 11 - Grant of registration u/s 12AA - The provisions of section 11 (1)(c) comes into operation only once registration is granted u/s 12A of the Act and...

  6. Deemed dividend u/s 2(22)(e) is not taxable in the hands of the assessee company if it is not a shareholder in the companies that extended loans. It is chargeable to tax...

  7. 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...

  8. This notification seeks to amend the Integrated Goods and Services Tax (IGST) rate notification to exempt certain services from IGST. It inserts new entries exempting...

  9. Karnataka State Natural Disaster Monitoring Centre (PAN: AAATD2434P), a body constituted by State Government of Karnataka, is exempted from income tax u/s 10(46) of...

  10. Penalty u/s 271(1)(c) - bogus claim u/s 80C - The Tribunal found that there was a discrepancy in the application of penalties by the lower authorities. - While the...

  11. Disallowance of deduction u/s 80IB - Comparing profitability of two entities - as rightly noted by Ld. CIT(A), the profitability of the two entities could not be...

  12. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

  13. HC allowed appeals, holding appellant's activities qualified as "relief of the poor" under Section 2(15) for charitable purpose definition and Section 11 exemption...

  14. Set-off of the losses against the deemed income u/s 69C - Determination of correct head of income - there is no iota of doubt that the deemed income assessed u/s 69C of...

  15. Disallowance u/s 14A r.w.r. 8D - The object of Section 14A is to curb the practice to claim deduction of expenses incurred in relation to exempt income against taxable...

 

Quick Updates:Latest Updates