Withdrawal of exemption granted u/s 10(23C)(vi) - where the ld. ...

Income Tax Exemption Withdrawal Upheld: Delegation of Authority Met Required Conditions u/s 10(23C)(vi.

January 13, 2020

Case Laws Income Tax AT

Withdrawal of exemption granted u/s 10(23C)(vi) - where the ld. CIT(E) has delegated his powers to any other authority to issue show cause notice and it is based on the satisfaction of that other authority and not of ld. CIT(E), it won’t satisfy the mandatory condition - But, in this case, condition of satisfaction of CIT(E) satisfied.

View Source

← Previous Next →

Withdrawal of exemption granted u/s 10(23C)(vi) - where the ld. ...

Income Tax Exemption Withdrawal Upheld: Delegation of Authority Met Required Conditions u/s 10(23C)(vi.

January 13, 2020

Case Laws Income Tax AT

You may also like:

ITAT determined that income derived from mushroom cultivation qualifies as agricultural income exempt under section 10(1). Following precedent from Inventaa Industries,...

Control of income-tax authorities - U/s 118 of IT ACT 1961 - Specifies the income-tax authority or authorities as subordinate to such other income-tax authority or...

Seeking withdrawal of CIRP - The tribunal noted the appellant's repeated failures in meeting commitments to the operational creditor. - It highlighted that the HDFC...

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...

ITAT ruled that interest earned on fixed deposits from unspent government grants qualifies as grant income under section 10(23C)(iiiac). When this interest is added to...

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

This notification from the Director General of Income Tax (Systems) specifies that Forms 42, 43, and 44 prescribed in Appendix-II of the Income Tax Rules 1962 shall be...

The provisions of the IBC 2016 would prevail over the Income Tax Act 1961. Income Tax authorities have limited jurisdiction to assess/determine the quantum of Income Tax...

The assessee, a university, claimed exemption u/s 10(23C)(iiiab) for the relevant assessment year, which was accepted by the Assessing Officer (AO) after considering the...

Karnataka State Natural Disaster Monitoring Centre (PAN: AAATD2434P), a body constituted by State Government of Karnataka, is exempted from income tax u/s 10(46) of...

Section 10(10AA) of the Income Tax Act provides tax exemption for leave encashment upon retirement for Central/State government employees and employees other than...

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...

The Department initiated the case based on income tax documents, which were public documents, and the presumption is on their truthfulness. The difference in value based...

Quick Updates: