Tag: Exemption u/s 10(23)(iiiad)
Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses. Sub-clauses (iiiad) of …
Registration u/s 12AA can not be denied for claiming exemption u/s 10(23C) earlier. Trust running hospital/school can apply under either for Sections. ABCAUS Case Law Citation: ABCAUS 2895 (2019) (04) HC Important Case Laws Cited/relied upon by the parties CIT vs. Bosotto Brothers Limited CIT Vs. M/s A.R. …
Surplus arising from educational activities after meeting the expenses incurred do not disentitle the trust from exemption u/s 10(23C)(iiiad) of the Income Tax Act, 1961. ABCAUS Case Law Citation: ABCAUS 1150 (2017) (03) ITAT The Grievance: The appellant assessee was aggrieved by the order of the CIT(A) denying …