Exemption u/s 11 - undisclosed income - the assessee society had ...

Contributions to Educational Society's Development Fund Qualify for Tax Exemption u/s 11, Not Classified as Undisclosed Income.

January 15, 2020

Case Laws Income Tax AT

Exemption u/s 11 - undisclosed income - the assessee society had received contribution towards development fund from the students, apart from the tuition fees, with the clear understanding that it shall be solely used for creation of capital asset necessary for achieving the educational objects of the assessee society and therefore formed part of the corpus and therefore, not in the nature of revenue receipts

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Exemption u/s 11 - undisclosed income - the assessee society had ...

Contributions to Educational Society's Development Fund Qualify for Tax Exemption u/s 11, Not Classified as Undisclosed Income.

January 15, 2020

Case Laws Income Tax AT

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