Home Highlights October 2016 Year 2016 This

You may also like:

1. Appellant University is neither directly nor even substantially financed by the Government so as to be entitled to exemption under the provisions of Section 10(23C)(iiiab) - SC

2. Exemption u/s 10(23C)(iiiab) - grant from Government is in excess of 50% of its total receipts - scope of explanation inserted by Finance Act, 2014 defining...

3. 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...

4. Grant of approval for exemption u/s.10(23C)(vi) - AOP - Since the AOP is recognised as a "person" for the purpose of Income Tax Act, 1961 and Section 10(23C) of the Act...

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. Entitlement to claim of exemption u/s.10(23C) (iiiab) - Neither any donor nor the Assessing Officer has lodged any complain before Government authorities for violation...

7. The assessee, a university, claimed exemption u/s 10(23C)(iiiab) for the relevant assessment year, which was accepted by the Assessing Officer (AO) after considering the...

8. Percentage of Government Grant for considering university, hospital etc. as substantially financed by the Government for the purposes of Section 10(23C) - Notification

9. 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...

10. Exemption u/s 10(23C)(iiiad) – computation of limit of ₹ 1 crores - sale proceeds of land and bonds cannot be equated to annual receipts as stated u/s 10(23C) - HC

11. 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....

12. 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...

13. The Income Tax Appellate Tribunal held that the denial of exemption u/s 10(23C)(iiiab) for late filing of the income tax return beyond the time specified u/s 139(1) or...

14. 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...

15. Exemption under section 10(23C)(iiiac) is automatic for entities which are wholly or substantially funded by the Government - AT