Home Highlights August 2017 Year 2017 This

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1. Benefit of exemption u/s 11 -assessee is holder of shares in violation of provisions of section 13(1)(d) - it is only the income from such investment or deposit which...

2. Exemption u/s 11 - violation of the provision of Section 13(1)(c) on account of payment of remuneration to specified person - In the event of any violation of provision...

3. Cancellation of registration u/s 12AB(4) - violation of provisions of Sections 11(1)(a), 11(1)(d), and 13(1)(c). The reference made under the second proviso of Section...

4. Corpus donations, being distinct from incomes derived from trust property, are granted exemption separately u/s 11(1)(a) and 11(1)(d) of the Act. There is no overlapping...

5. Exemption u/s 11 - Violation of provisions of Section 13(1 )(c) and 13(1)(d) - loans and advances to interested persons - We are of the considered view that the learned...

6. Revision u/s 263 by CIT - disallowance of exemption claimed in respect of accumulation of income u/s 11(2) - insofar as the impugned assessment year is concerned, there...

7. Exemption u/s. 11(1)(d) - contributions received from students towards development and welfare funds of the school - voluntary contribution or otherwise - The ITAT...

8. Exemption u/s 11 was not claimed in original return due to auditor's mistake in Form No. 10B. Assessee rectified mistake by filing revised Form No. 10B. Statutory claim...

9. Exemption u/s 11 - violation of section 11(1) and 11(1)(b) - Merely advertising the fact that facility of hostel, seminar halls, auditorium etc. can be used by...

10. Exemption u/s 11 - investment in violation of Section 11(5) - investment of Rs. 1.5 crore and transfer of 100 acres of land by the Appellant to HITEX squarely covered...

11. Disallowance of exemption u/s.11 - it is only the income from such investment or deposit which has been made in violation of section 11(5) that is liable to be taxed and...

12. Exemption u/s 11 - status of the assessee trust - The assessee trust is irrevocable trust which is duly registered under section 12A and thus, eligible for exemption u/s...

13. Calculation of the deduction u/s. 11(1)(a) - Having found that trust is entitled to exemption under s. 11(1), we are to go to the stage of income before application...

14. Penalty levied u/s 271(1)(c) - bogus claim of exemption u/s 11 - assessee claimed exemption of its income under section 11(1) of the Act without any registration under...

15. Adjustment u/s 143(1) disallowing revenue expenditure claim u/s 11(1) was made without providing reasonable opportunity to assessee, violating second Proviso of Section...