Charitable purpose - Application of loan repayment allowability ...

Case Laws Income Tax

June 4, 2018

Charitable purpose - Application of loan repayment allowability - The repayment of loan is not an allowable deduction against profit and gains of the business even under section 30 to 43C of the Act - the assessee is not eligible for application of loan repayment against the income for charitable purposes. - AT

View Source

← Previous Next →

Charitable purpose - Application of loan repayment allowability ...

Case Laws Income Tax

June 4, 2018

You may also like:

Allowable expenditure versus Application of Income (Repayment of loan) - Payment made to the Marketing Board - progressive payments given to the Haryana State...

Deemed dividend u/s 2(22))e) - repayment of loan or advance by the Company

External Commercial Borrowings (ECB) – Repayment of Rupee loans - Circular

Application of registration u/s.12AA rejected - charitable activity u/s 2(15) - Section 2(15) defines charitable purpose for the purpose of the Act and includes relief...

Violation of the provisions of Sections 269SS and 269T - scope of the term "loan" and "deposit" - Penalty u/s 271D and 271E - amount received on account of share...

Charitable trust provided educational grants to Indian students for pursuing higher education abroad. The issue pertained to whether such grants constituted "application...

Charitable purpose - the application of the fund is not made for charitable activity but for construction of the building, which again does not directly reflect the...

The Appellant challenged the admission of the Section 7 application filed by the Financial Creditor, contending no debt was due as the application was premature. The...

The Appellate Tribunal addressed the issue of exemption u/s 11 for income from property held for charitable purposes. It held that the provision of section 11(1)(a)...

Exemption u/s 11 - application filed by the assessee in Form No.10AB for registration u/s 12AB rejected finding that the objects of the assessee were for the benefit of...

Exemption u/s 11 - Application of income does not change the character of receipt. If the receipt is not from the property held for charitable purposes, the same will...

Charitable purpose u/s 2(15) - sale of unani medicines - charitable activity through - Hakims and Vaids - application of income and accumulation - order denying the...

Penalty u/s 271E - repayment of the loans in question in cash - default u/s 269SS - reasonable cause - the repayment of advances from regular parties are identifiable...

Charitable Trust - if commercial principles are applied then adjustment of expenses incurred by the trust for charitable religious purpose in the earlier years against...

Exemption u/s 11 - as assessee has already been allowed cost of addition to asset acquired out of the loans as application of income in relevant years and therefore...

Quick Updates: