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Income Tax - Highlights / Catch Notes

Home Highlights August 2018 Year 2018 This

Denial of exemption u/s 11 - taxing the entire receipts of the ...

Case Laws     Income Tax

August 20, 2018

Denial of exemption u/s 11 - taxing the entire receipts of the assessee trust in place of net receipts. - assessee which obtained registration u/s. 12AA of the Act during the pendency of appeal was entitled for exemption u/s 11 of the Act.

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  1. The Appellate Tribunal considered whether the assessee, a trust registered u/s 12AA, qualified for exemption u/s 11 as a charitable entity. The AO argued the trust's...

  2. Denial of exemption u/s 11 was challenged. The assessee trust's entire income, including corpus donation, voluntary donation, and other income, was adjusted by not...

  3. 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...

  4. The assessee, a trust registered u/s 12AA, filed its return of income belatedly u/s 139(4) of the Income Tax Act. The issue was whether the trust could avail exemption...

  5. Exemption u/s 11 & 12 - charitable activity u/s 2(15) - The assessee trust does not distribute its profits among members and it does not pay higher remuneration to its...

  6. Exemption u/s 11 - benefit denied on delay in filling the audit report - The Appellate Tribunal acknowledged the delay in filing Form 10B but noted that the issue of...

  7. Exemption u/s 11 - undue benefit to specified persons - denial of exemption to extent of rent paid by the assessee to one of its trustees holding the same to be on...

  8. Income accrued in India - interest income and commitment fees earned by DZ Bank from its Indian clients - PE in India - Once entire interest revenues earned in India in...

  9. Exemption u/s 11- taxability of unregistered trust - AO has brought gross receipts to tax which is against the basic tenets of law where only the real income which is...

  10. 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...

  11. Determination of income of the trust after denial of the exemptions under section 11 - Once the exemption claimed by the assessee u/s 11 of the Act has been denied, the...

  12. Denial of exemption u/s 11 - Assessee is claimed to be a trust carrying on activities of providing swimming pool facilities for aquatic events and training and...

  13. Denial of exemption u/s 11(2) was contested due to the trust's failure to file Form No. 10 within the due date specified u/s 139(1) owing to technical issues. The...

  14. Exemption u/s 11 - grant of registration u/s 12AA rejected - private religious trust or public trust - If the assessee wanted grant of registration under section 12AA of...

  15. Assessment u/s 153A - benefit of exemption u/s 11 - Bogus purchases - even if the benefits of section 11 is denied than too there can be no income of the appellant trust...

 

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