Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2018 Year 2018 This

Exemption u/s 10 - whether the assessee is solely existing for ...


Exemption Eligibility for Assessee u/s 10 Requires Scrutiny Assessment for Educational Purpose and Government Financing Verification.

June 4, 2018

Case Laws     Income Tax     AT

Exemption u/s 10 - whether the assessee is solely existing for educational purpose and the Government has financed - this issue requires detailed verification - can not be done by mere stating adjustments u/s 143(1) - can be done only by way of scrutiny assessment. - AT

View Source

 


 

You may also like:

  1. Section 80CCC(2) applies only when the assessee has claimed and been allowed a deduction u/s 80CCC(1). Since the assessee did not claim deduction u/s 80CCC(1), Section...

  2. Exemption u/s 10(23) - assessee has multiple objectives, but, carried on only educational activities - functions solely for education and not for profit - Every year,...

  3. Assessee's claim for exemption u/s 10(35) was rejected by CPC while processing return u/s 143(1)(a), which attained finality as assessee failed to challenge it before...

  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. 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...

  6. ITAT rejected assessee society's claim for exemption under sections 10A/10AA due to lack of documentary evidence supporting reduced gross total income. Additional ground...

  7. Denial of exemption u/s 10(25)(ii) - filling of return in the abbreviated name - We are of the considered view that ld. CIT (A) has erred in dismissing the rectification...

  8. Educational trust's appeal against denial of exemption u/s 10(23C)(iiiad) was allowed by ITAT. The trust, established in 1962, exclusively provides government-recognized...

  9. 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...

  10. 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...

  11. ITAT affirmed that insurance companies are eligible for exemptions under sections 10(38), 10(15), and 10(34) for profits from sale of shares/securities, interest on...

  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. 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....

  14. Eligibility to exemption u/s 10(23FB) - For AY 2008-09 and 2009-10 there is an ammendment in section 10(23FB) - Assessee’s case does not fall under exemption category -...

  15. Exemption claimed u/s.10(23B) - Mandatory approval from Khadi and Village Industries Commission - approval was granted for more than three assessment years and therefore...

 

Quick Updates:Latest Updates