Exemption u/ 11 - claim denied as assessee is maximizing profits ...

Charitable Entity Denied Tax Exemption u/s 11 for Profit-Driven Property Auctions Despite Urban Development Role.

July 12, 2022

Case Laws Income Tax AT

Exemption u/ 11 - claim denied as assessee is maximizing profits by selling the properties by auction - the assessee is a charitable entity u/s 2(15) of the 1961 Act, being engaged in the advancement of object of general public utility, with the predominant object of tackling problems of town planning and urban development in a planned manner, and shall be eligible for exemption u/s 11 of the 1961 Act. - AT

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Exemption u/ 11 - claim denied as assessee is maximizing profits ...

Charitable Entity Denied Tax Exemption u/s 11 for Profit-Driven Property Auctions Despite Urban Development Role.

July 12, 2022

Case Laws Income Tax AT

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