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 September 2019 Year 2019 This

Exemption u/s 10(26) - denial of exemption relief to the two ...


Tribal Partnership Firms Denied Income Tax Exemption u/s 10(26) Due to Specific Eligibility Requirements.

September 23, 2019

Case Laws     Income Tax     AT

Exemption u/s 10(26) - denial of exemption relief to the two partnership firms that was formed by two tribal individuals - sec. 10(26) pre-possess “any person” who is also a member of a Scheduled Tribe as against sec. 10(26A) and 10(26AAA) applicable in case of specified categories of person respectively - Benefit of exemption not allowed.

View Source

 


 

You may also like:

  1. Exemption u/s 10(26) - Exemption to individual members of Scheduled Tribes - Whether a partnership firm, formed by individual partners who are entitled to an exemption...

  2. HC held that income tax exemption under Section 10(26) for Scheduled Tribes is only applicable when income accrues in specified areas under Sixth Schedule. The interest...

  3. Exemption of payment of Income Tax u/s 10(26) - right of member of a Scheduled Tribe - scope of expression “residing in any area specified” - The petitioner is indeed...

  4. Transfer of an industrial undertaking from urban to rural area by a partnership firm qualifies for exemption u/s 54G of the Income Tax Act. The assessee, a partner in...

  5. 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...

  6. Partnership firm rendered professional services in Japan, taxes withheld there. Firm claimed foreign tax credit (FTC) which was denied by tax authorities. ITAT held that...

  7. The HC dismissed a petition challenging denial of exemption under section 10(23C)(vi) of the Income Tax Act. The petitioner-trust argued that income received solely for...

  8. Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

  9. Exemption u/s 10(26) - scope and ambit of the words “residing” in the opening portion of section 10(26) - A member of Scheduled Tribe is bound to obtain a certificate...

  10. In deposit of trading receipts of the firm in the bank account of the partner, the assessee has not violated any of the provisions of the Income Tax Act, even if it may...

  11. 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...

  12. 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...

  13. The High Court addressed the issue of exemption u/s 10(25)(iii) of the Income Tax Act. The Assessing Officer denied the exemption to the assessee fund, claiming it lost...

  14. Exemption u/s.10(2A)- amount received by a retired partner from its earstwhile partnership firm - assessee company was not at all partner in the said firm. - exemption...

  15. Status of the partnership firm treated as AOP - partnership deed is executed on an inadequate stamp paper - Department is accepting all the genuineness of existence of...

 

Quick Updates:Latest Updates