Home Highlights March 2012 Year 2012 This

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1. Exemption u/s.10(23C)(vi) - payment of lease rent to trustees of the trust - ld. CIT(E) had stated that this payment of lease rent is in violation of provisions of...

2. Exemption u/s 11 - Deduction u/s 10(23C) - allowability of depreciation - since the AO has failed to examine the claim of the assessee for exemption u/s 10(23C), 11, 12...

3. Exemption u/s 10(23C)(vi) - In the year under consideration, the assessee was neither having registration under section 12 A of the Act nor was having approval under...

4. Exemption u/s 11 - Since the assessee has been claiming exemption u/s.10(23C) in the earlier years therefore during the year under consideration there is high...

5. 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...

6. Eligible for exemption u/s. 11 or 10(23C) - the dominant object of the assessee is to only develop the game of the cricket and not to carry any business activity...

7. Approval u/s 10(23C)(v) - Assessee does not have any approval under section 10(23C)(v) of the I.T. Act for the assessment year under appeal, therefore, there is no...

8. Benefit of the provisions of Section 10 (23C)(iiiab) - There is a sweeping difference in according the any assessee to the provisions of Section 12AA and Section...

9. Assessment u/s 153A - benefit of exemption u/s 11 - Bogus purchases - even if the benefits of section 11 is denied than too there can be no income of the appellant trust...

10. Deduction u/s 11 - benefit of particular religious community or caste - The provisions of section 13(1)(b) will apply, the trust being of charitable character with two...

11. Exemption u/s 10(23C)(vi) denied - exemption u/s 11 and 12 denied - the exemption u/s 11 and 12 of the Act cannot be denied only on the basis of rejection of application...

12. Claim of exemption u/s 10(23EC) as well as exemption u/s 11 - contribution received from recognized stock exchange and the members - Prior to 1-4- 2024 there was no bar...

13. Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

14. Exemption u/s 11 - Once it is to be held that the assessee is a charitable institution and it is entitled for benefit u/s 11 and 12, then all other aspects of section...

15. Non-granting of exemption u/s. 10(23C)(iiiab) - denial of benefits of exemption u/s. 11 also - the exemption has been denied solely for the reason that the institution...