Rectification u/s 154 - Exemption u/s 11 - accumulation of ...

Rectification Under Income Tax Act Section 154: 15% Charitable Income Accumulation to be on Gross, Not Net Receipts.

September 6, 2021

Case Laws Income Tax AT

Rectification u/s 154 - Exemption u/s 11 - accumulation of income for charitable purpose - mistake apparent from the record - whether accumulation at 15% has to be computed on the gross receipts in terms of section 11(1)(a) of the Act and not on the net receipts as computed by the AO? - In view of CBDT circular and Decision of Supreme Court, since there is apparent mistake, AO directed to rectify the same - AT

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Rectification u/s 154 - Exemption u/s 11 - accumulation of ...

Rectification Under Income Tax Act Section 154: 15% Charitable Income Accumulation to be on Gross, Not Net Receipts.

September 6, 2021

Case Laws Income Tax AT

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