Home Highlights November 2019 Year 2019 This

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1. 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...

2. Application for approval u/s 10(23C)(vi) rejected - assessee is already granted registration u/s 12AA - registration u/s 12AA of the Act granted to the assessee should...

3. 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....

4. Grant of approval u/s 10(23C)(vi) - when it is proved on record that the assessee Trust is running an educational institution, the application to grant approval u/s...

5. 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...

6. Benefit of the provisions of Section 10 (23C)(iiiab) - There is a sweeping difference in according the any assessee to the provisions of Section 12AA and Section...

7. 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...

8. Approval u/s 10(23C)(v) - Assessee does not have any approval under section 10(23C)(v) of the I.T. Act for the assessment year under appeal, therefore, there is no...

9. 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...

10. Approval granted u/s 10(23C)(iv) revoked - assessee has not maintained separate books of account for its business and charitable activities - the revenue must bring on...

11. 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....

12. Reopening of assessment u/s 147 - AY 2005-06 - non granting the approval u/s 10(23C)(vi) - the reopening merely on the basis of that the assessee has not got approval...

13. 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...

14. Exemption u/s 10(23C)(vi) - In the year under consideration, the assessee was neither having registration under section 12 A of the Act nor was having approval under...

15. 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...