Exemption u/s.11 - as the assessee is carrying on micro finance ...

Microfinance Business Denied Tax Exemption u/s 11 for Lack of Charitable Activities.

July 20, 2016

Case Laws Income Tax AT

Exemption u/s.11 - as the assessee is carrying on micro finance business in a commercial manner so as to earn profit and there is no iota of charity carried on by the assessee so as to grant exemption under sec.11 of the Act - AT

View Source

← Previous Next →

Exemption u/s.11 - as the assessee is carrying on micro finance ...

Microfinance Business Denied Tax Exemption u/s 11 for Lack of Charitable Activities.

July 20, 2016

Case Laws Income Tax AT

You may also like:

Exemption u/s. 11 - nature of microfinance activity carried on by the appellant - relief to poor - business activists or not? - charging 50% higher rate of interest -...

Benefit of exemption u/s 11 - charitable activity - Activities in the nature of trade, commerce or business - the receipts from these activities which is in the nature...

Exemption u/s 11 - Charitable activity u/s 2(15) - The Tribunal found that the assessee, a trust, was engaged in charitable activities under Section 11 of the Income Tax...

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...

The ITAT Bangalore considered whether an organization engaged in microfinancing activities qualified for exemption u/s 11 as a charitable entity or if its activities...

Exemption u/s 11 - the assessee is registered as a public charitable trust and the assessee carried only religious activities and no charitable activities are carried...

The Appellate Tribunal considered whether the assessee, a trust registered u/s 12AA, qualified for exemption u/s 11 as a charitable entity. The AO argued the trust's...

The reopening of assessment u/s 147 cannot be sustained as the exemption u/s 11 was wrongly denied. The notice claimed the petitioner engaged in commercial activities,...

Charitable activity within the scope of section 2(15) - exemption u/s 11 - activity of preservation of environment - the activities of the assessee are charitable in nature.

Exemption u/s 11 - AO by invoking proviso to Section 2(15) and denying the exemption - Receipts from business activities exceeded the threshold of Rs. 10 lakhs and Rs....

Exemption u/s 11 - whether the hostel activity of the trust which is imparting dental education in the institution established by it is a business activity incidental to...

Exemption u/s 11 and 12 - charitable activity u/s 2(15) - total receipts from trade, commerce or business/service exceeded 20% of total receipts - The ITAT, referencing...

Exemption u/s 11 - Charitable activity - exemption cannot be denied merely on the ground that, earlier the approval u/s 10(23C)(vi) was rejected.

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...

Exemption u/s. 11 - Charitable activity u/s 2(15) - Assessee trust is an autonomous body which is established under 5/2 of the Gujarat Town Planning and Urban...

Quick Updates: