Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2023 Year 2023 This

Denial of exemption u/s.11 - assessee earned huge margin on ...

Case Laws     Income Tax

January 21, 2023

Denial of exemption u/s.11 - assessee earned huge margin on performance of the activity, which is in the nature of business - the contention is devoid of merit because pendency of a review petition does not dilute or alter in any manner the binding force of the judgment in terms of Article 141 of the Constitution of India. We, therefore, approve the ultimate conclusion drawn by the authorities in rejecting the claim of the exemption to this extent. - AT

View Source

 


 

You may also like:

  1. Benefit of exemption u/s 11 - charitable activity - Activities in the nature of trade, commerce or business - the receipts from these activities which is in the nature...

  2. Exemption u/s 11 - UP Awas Evam Vikas Parishad - AO denied exemption holding that the assessee was hit by the proviso to section 2(15) of the Act as the assessee has...

  3. Denial of exemption u/s 11 - treatment of assessee as AO - proof of profit motive - the assessee has carried on systematic activities in a regular manner for...

  4. Exemption u/s 11 - Denial of registration u/s 12AA - charitable activity u/s 2(15) - charging certain fees to recoup its cost - There are enough safeguards provided in...

  5. Eligibility to exemption u/s 11 - charging fees from the students - denial of claim as activities of the society are in the nature of business activity - AO could not...

  6. Charitable activity within the scope of section 2(15) - exemption u/s 11 - activity of preservation of environment - the activities of the assessee are charitable in nature.

  7. Exemption u/s 11 and 12 - charitable activity u/s 2(15) - total receipts from trade, commerce or business/service exceeded 20% of total receipts - The ITAT, referencing...

  8. Exemption u/s. 11 - Charitable activity u/s 2(15) - Assessee trust is an autonomous body which is established under 5/2 of the Gujarat Town Planning and Urban...

  9. Exemption u/s 11 - Denial of exemption disputing the charitable nature of activities carried out by the assessee in terms of section 2(15) - the assessee-authority is...

  10. Exemption u/s 11 - Activities in the nature of trade, commerce or business or not - the proviso to Section 2(15) of the Act shall not be applicable so far as...

  11. Exemption u/s 11 - the assessee is registered as a public charitable trust and the assessee carried only religious activities and no charitable activities are carried...

  12. Exemption u/s 11 - promotion and development of the game of Cricket - proviso to section 2(15) is invoked in the case of the assessee as the activities of the assessee...

  13. Exemption u/s 11 - whether the hostel activity of the trust which is imparting dental education in the institution established by it is a business activity incidental to...

  14. Exemption u/s 11 - Other receipts - Admittedly, in the case on hand, the benefit of section 11 has been denied to the assessee for the activities carried out for the...

  15. The assessee, a company registered u/s 25 of the Companies Act, 1956, with the main objective of supporting and promoting the export of gems and related activities, was...

 

Quick Updates:Latest Updates