As the gross receipts of the assessee are less than ₹ 1 ...

Assessee with receipts under Rs. 1 crore can claim exemption u/s 10(23C)(iiiad) without income tax authority approval.

February 13, 2017

Case Laws Income Tax AT

As the gross receipts of the assessee are less than ₹ 1 crore, so it is not required to get the approval from the income tax authority for claiming the exemption u/s 10(23C)(iiiad) - there is no condition that a registration u/s 12AA - AT

View Source

← Previous Next →

As the gross receipts of the assessee are less than ₹ 1 ...

Assessee with receipts under Rs. 1 crore can claim exemption u/s 10(23C)(iiiad) without income tax authority approval.

February 13, 2017

Case Laws Income Tax AT

You may also like:

Exemption u/s 10(23C)(iiiad) - Threshold limit of Rs. 1 Crore - The Appellate Tribunal found that the appellant's gross receipts, when considering certain fee receipts...

Exemption under section 10(23C)(iiiad) - educational purpsoe - If the existence of the assessee was not for the purposes of profit, but solely for educational purpose,...

The tribunal held that the monetary limit of Rs. 1 crore prescribed u/s 10(23C)(iiiad) read with Rule 2BC should be applied separately to the gross receipts of each...

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

Exemption u/s 10(23C) (iiiad) - If the corpus fund is excluded, the balance aggregate annual receipt of the assessee’s educational institution would be less than ₹...

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 ITAT decision addressed rectification of intimation u/s 154, relating to denial of claim u/s 10(23C)(iiiad) due to non-filing of Form 10BB. The appellant's income...

Eligibility for exemption u/s 10(23C)(iiiad) - claim not made in return of income - failure to furnish audit report in Form 10B - The Tribunal found that the...

Exemption u/s10(23C)(iiiad) – when the assessee has been granted exemption u/s 10(22) with the same objectives, the assessee has to be granted exemption u/s...

Exemption under Section 10(23C)(iiiad) - Determination of threshold of turnover - ‘annual receipts’ versus ‘gross receipt’ - The Assessing Officer (AO) disallowed the...

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...

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...

Exemption under 10(23C) - It is not statutorily incumbent upon the assessee to obtain registration u/s 12A of the Act, to enable it for exemption u/s 10(23C) of the Act....

Registration of trust u/s 12AA(1)(b) r.w.s 10(23C)(iiiad) - franchisee fee paid to Zee Learn Ltd - If the existence of the assessee was not for the purposes of profit,...

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...

Quick Updates: