Tag: Application u/s 11
ITAT allows exemption u/s 11 when audit report in Form 10B was uploaded but could not be approved due to technical glitch In a recent judgment ITAT has allowed the exemption u/s 11 when audit report in Form 10B was uploaded within due date but could not be …
Income accumulated us 11(2) not deemed income when transferred from capital fund account to the income and expenditure account for utilisation within time allowed u/s 11(3)(c)-ITAT The instant appeal was preferred by the Revenue against the order passed by the Commissioner of Income Tax (Appeals) in deleting the …
Depreciation and exemption both not allowable to charitable trust. Statutory provision u/s 32 to prevail over customary practice-commercial principle-ITAT The allowability of the depreciation claim to a charitable trust/institution in calculating prescribed limit of 85% towards income application u/s 11 of the Income tax Act, 1961 was settled …