Exemption u/s 10(23C)(vi) - there has been no exercise done by ...

Case Laws Income Tax

July 12, 2019

Exemption u/s 10(23C)(vi) - there has been no exercise done by the Department either at first instance or at least on review petition to find out as to whether the Trust has generated a reasonable surplus to enable them to sustain the institution and in the event of a higher surplus, whether they had ploughed back or utilising the same for achieving the objects of the trust - rejection invalid - remanded to CCIT

View Source

← Previous Next →

Exemption u/s 10(23C)(vi) - there has been no exercise done by ...

Case Laws Income Tax

July 12, 2019

You may also like:

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...

Allowability of exemption u/s 10(23C)(vi) - Allegatin that, assessee Society has continued to divert its funds towards non-educational activities by way of huge advances...

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...

Exemption u/s10 (23C)(vi) denied - the petitioner exists solely for educational purposes and not for the purposes of profit - revenue directed to grant approval to the...

Benefit of exemption - Approval u/s 10(23C)(vi) was granted to trust as a whole or for specified institution only - We are in complete agreement with the ld....

Exemption u/s 10(23C)(vi) - Commissioner was of the opinion that the activity of the respondent-assessee cannot be said to be solely for imparting the education and,...

Exemption u/s.10(23C)(vi) - payment of lease rent to trustees of the trust - ld. CIT(E) had stated that this payment of lease rent is in violation of provisions of...

Exemption u/s 10 (23C) (vi) - generation of surplus from year to year - the court referred to precedents and a clarificatory circular issued by the Ministry of Finance....

Denial of exemption u/s 10(23C)(vi) - CIT(E) observed the huge surplus which indicates that the activities are conducted with the motive of profit. - even if for any...

Exemption u/s 11 / 10(23C)(vi) - Condonation of delay - There is no such provision nor there is any power to condone the delay after considering the reasonable reasons....

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...

Condone delay in fling the application for exemption u/s 10(23C)(vi) - We feel that even at this stage petitioner may approach CBDT under section 119(2)(b) seeking a...

Grant of exemption under Section 10(23C)(vi) - whether for the purpose of approval under Section 10(23c)(vi), the objects of the Trust should include only educational...

Exemption u/s 10(23C)(vi) – mere fact that a fee is being charged from students would not establish that the institution exists for profit – the rejection of the...

Entitlement for exemption u/s 10(23C)(vi) – Exemption u/s 11 – Deposits and donations added – Nature of the Institution – Educational OR profit motive - exemption allowed - AT

Quick Updates: