Exemption u/s 11 - Charitable activity u/s 2(15) - entities ...

Leasing Space as Business: Impacts on Income Tax Exemption Status u/ss 11(4A) and 2(15) of the Income Tax Act.

August 17, 2023

Case Laws Income Tax AT

Exemption u/s 11 - Charitable activity u/s 2(15) - entities engaged in providing other than essential services - business of providing built-up space or making available vacant land, on leasehold basis - the letting is being undertaken in an organized manner - The lease rentals are deployed to finance both creation of more built-up space, as well as through charge of depreciation, sustain that existing. - The same qualifies as an eligible business u/s. 11(4A), and it’s income assessable as business income. - AT

View Source

← Previous Next →

Exemption u/s 11 - Charitable activity u/s 2(15) - entities ...

Leasing Space as Business: Impacts on Income Tax Exemption Status u/ss 11(4A) and 2(15) of the Income Tax Act.

August 17, 2023

Case Laws Income Tax AT

You may also like:

Exemption u/s 11 - Educational activiity u/s 2(15) - CIT-A treated the income from recording studio as business income under section 11(4A) treating the income from...

Exemption u/s 11 - Section 11(4A) must be interpreted harmoniously with Section 2(15), with which there is no conflict. Carrying out activity in the nature of trade,...

Charitable entity u/s 2(15) denied exemption u/ss 11 and 12 by Assessing Officer (AO) on grounds of conducting exhibitions being commercial in nature. ITAT held no...

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

The Appellate Tribunal considered whether the assessee, a trust registered u/s 12AA, qualified for exemption u/s 11 as a charitable entity. The AO argued the trust's...

Exemption u/s 11 - charitable purposes u/s 2(15) or not? - The Tribunal held that, mere selling some product at a profit will not ipso facto hit assessee by applying...

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...

Registration granted to the assessee u/s 12A cancelled - legally the impact of the proviso to section 2(15) being attracted is that the assessee will not be eligible for...

Exemption u/s 11 - applicability of Section 2(15) - addition on account of premium on land and shades - it could not be said that the activities carried out by the...

Denial of exemption u/s 11 r.w.s. 2 (15) - It is no doubt true that the receipts from non-sporting activities earned by the assessee are covered under the proviso to...

Eligibility for exemption u/s 11 & 12 - assessee is eligible for exemption u/s 11 & 12 of the Income Tax Act as assessee is not engaged in any trade, commerce or...

Denial of exemption u/s 11 was challenged due to alleged violations of Sections 13(1)(d), 13(2)(h), and 13(1)(c) of the Income Tax Act. The key points are: Section...

Exemption u/s 11(2) - pursing these valid objects of general public utility through lawful statutory schemes cannot be considered as business activity, and, as a...

Denial of exemption u/s 11 - Assessee is claimed to be a trust carrying on activities of providing swimming pool facilities for aquatic events and training and...

Exemptions u/s 11 and 12 - Charitable activity u/s 2(15) - The assessee trust is carrying out the activities of general utility of development of infrastructure for...

Quick Updates: