Exemption u/s 11 - Application of income - amount is shown under ...

Section 11 Exemption Denied: Income Listed as "Sundry Debtors" and Form-10 Not Submitted on Time.

September 14, 2022

Case Laws Income Tax AT

Exemption u/s 11 - Application of income - amount is shown under the heading “sundry debtors” but no capital expenditure was incurred as stated by the assessee - since the assessee has neither expended the money during the relevant assessment year nor filed Form-10 within the due date prescribed U/s. 139(1) of the Act, the exemption claimed by the assessee is not valid in law - AT

View Source

← Previous Next →

Exemption u/s 11 - Application of income - amount is shown under ...

Section 11 Exemption Denied: Income Listed as "Sundry Debtors" and Form-10 Not Submitted on Time.

September 14, 2022

Case Laws Income Tax AT

You may also like:

Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

Failure to file Form 10/10B before due date prescribed u/s 139(1) cannot be fatal to deny exemption u/s 11(2), especially when Form 10/10B was available on record when...

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...

Denial of exemption u/s 11(2) was contested due to the trust's failure to file Form No. 10 within the due date specified u/s 139(1) owing to technical issues. The...

Exemption u/s 11 - A.O. denied the claim of the assessee since the Form No. 10 was not furnished before filing the return of income under section 139 of the Act. Form No....

Exemption u/s 11 - delayed filing of Form No.10 - disallowance of benefit of accumulation of income as per section 11(2) - ITAT has held in a number of decisions that...

Validity of reassessment proceedings questioned due to delayed digital submission of Form 10. Emphasis on due disclosure over procedural digital filing requirements....

Exemption u/s. 10(33) - There is nothing in the language of sections 10 or 11 which says that what is provided by section 10 or dealt with is not to be taken into...

Exemption u/s 11 - accumulation of 15% of income - Form 10 can be filed before the conclusion of the assessment proceedings - AO should provide opportunity for...

Exemption u/s 10(23C)(vi) denied - exemption u/s 11 and 12 denied - the exemption u/s 11 and 12 of the Act cannot be denied only on the basis of rejection of application...

Charitable institution invested funds in shares of joint venture companies, violating Section 13(1)(d). Exemption u/s 11 denied for income from such investment. However,...

Eligibility for exemption u/s 11 - Section 2(15) and the corresponding sections including Sections 11, 12, 12A and 12AA are independent of Section 10(20A) of the Act....

Accumulation of fund u/s 11(2) - Failure to submit Form 10 - information related to accumulation and purpose for utilization of accumulated income - Exemption u/s 11 not...

Adjustment made to the income returned in the intimation made by the CPC u/s 143(1) - exemption u/s 11/12 denied as assessee had failed to furnish the necessary Form 10B...

Exemption u/s 11- Power of AO to consider revised Form 10 - revised Form 10 for accumulation of income can be furnished in the course of assessment proceedings before...

Quick Updates: