Exemption u/s 11 - Disallowance of utilization fees - payment ...

Court Rules Disallowance of Utilization Fees Unjustified u/s 11 of Income Tax Act Without Evidence of Excess or Benefit.

April 3, 2019

Case Laws Income Tax AT

Exemption u/s 11 - Disallowance of utilization fees - payment against equipment and assets owned by trustees, but used by trust - in absence of finding that utilization fees paid is excessive or is for the direct or indirect benefit of any person, same can not be disallowed.

View Source

← Previous Next →

Exemption u/s 11 - Disallowance of utilization fees - payment ...

Court Rules Disallowance of Utilization Fees Unjustified u/s 11 of Income Tax Act Without Evidence of Excess or Benefit.

April 3, 2019

Case Laws Income Tax AT

You may also like:

ITAT ruled on income computation under Section 11(1) for a charitable trust manufacturing artificial limbs. Revenue generated from manufacturing activities qualifies as...

The Delhi High Court addressed the issue of deduction u/s 11(1) concerning accumulation of 15% of deemed income. The court noted that Explanation 2, inserted by the...

Exemption u/s 11 - charitable activity u/s 2(15) - extra fees collected over and above prescribed fees - capitation fee - benefit of section 11 of the Act cannot be...

Provision of facilities/amenities by units under Rule 11(5) of the SEZ Rules

This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

Disallowance u/s 14A read with Rule 8D - the AO has not computed any disallowance under Rule 8D(2)(i) and Rule 8D(2)(ii) of the Rules and only under Rule 8D(2)(iii) of...

The assessee failed to deduct tax on professional fees paid to various non-residents. The Assessing Officer (AO) held that the fees were liable to tax in India under the...

Charitable institution invested funds in shares of joint venture companies, violating Section 13(1)(d). Exemption u/s 11 denied for income from such investment. However,...

Disallowance of prior period expenses pertaining to expenditure crystallized or details received after completion of earlier years' audits. Genuineness not doubted,...

Penalty u/s 271(1)(c) was imposed for disallowance of depreciation on non-compete fees. The CIT(A) relied on Sharp Business System [2012 (11) TMI 324 - Delhi High...

Method of valuation - Rule 11 is adopted when the situation is not covered by any of the other methods of valuation prescribed from Rule 4 to 10A. The method of...

Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

The High Court exceeded its limited jurisdiction u/s 11 of the Arbitration and Conciliation Act, 1996 by undertaking a detailed examination of the factual matrix and...

Jurisdiction of civil court u/s 34 of SARFAESI Act was in question. Suit for declaration and permanent prohibitory injunction was rejected by lower courts under Order...

Exemption u/s 11 - whether the objects of the trust were charitable? - The High court found that the issue of interpretation of Section 11 was covered by previous...

Quick Updates: