Tag: exemption u/s 11

Expenditure over income should have been considered even if the claim of exemption under section 11 was not allowed by CPC – ITAT  In a recent judgment ITAT Guwahati has held that audited income and expenditure account showing net excess expenditure over income should have been considered even …

Even when the trust is not registered u/s 12A, taxes can be levied on the net income and taxing of the entire receipts without any deduction towards expenditure is wrong and illegal – ITAT In a recent judgment ITAT Chandigarh has held that even when the Trust is …

Merely because deductor under misconception deducted TDS u/s 194C and 194J, it would not disentitle assessee, benefit under Sections 11 and 12 of the Act. In a recent judgment, The Hon’ble Supreme Court has dismissed the SLP of the Revenue against the the decision of the Delhi High …

Violation of conditions u/s 13(1)(c) & denial of exemption – Supreme Court directs High Court to admit appeal In a recent judgment, Hon’ble Supreme Court has directed Hon’ble Bombay High Court to admit appeal on the substantial question of law as to whether violation of conditions under Section …

Exemption u/s 11 denied on filing wrong ITR-5 instead of ITR-7 by mistake. A genuine and inadvertent mistake by filing ITR-5 instead of ITR-7 as a trust needs to be considered in its proper prospective – ITAT In a recent judgment, ITAT while remanding the case held that …

Benefit of exemption u/s 11 can not be denied for mere delay in filing of audit-report with return of income – ITAT ABCAUS Case Law Citation:ABCAUS 3718 (2023) (04) ITAT Important Case Laws relied upon:Savitri Foundation vs. ITOWipro Ltd. 446 ITR 1CIT vs. Mumbai Metropolitan Regional Iron & …

Denial of deduction u/s 11 not filing of Audit Report in Form 10B within due date. The CIT(A) to wait till disposal of condonation application pending before CIT(Exemption) ABCAUS Case Law Citation:ABCAUS 3666 (2023) (02) ITAT In the instant case, the assessee had challenged the order passed by …

Activity of running hostel by Dental college not a separate business activity and pre conditions u/s 11(4A) do not apply – High Court In the instant case, the assessee had challenged the order passed by the ITAT holding that in the absence of separate books of accounts, the …

Mere surplus from exhibition not trade commerce or business activities u/s 2(15) making it non-charitable ABACUS Case Law CitationABCAUS 3386 (2020) (09) ITAT Important case law relied upon by the parties:Society of Indian Automobile Manufacturers vs. Income Tax Officer, (2016) 71 taxmann.com 138Assistant Commissioner of Income Tax vs. …

Surplus income from holding exhibition by chamber of commerce held eligible for exemption u/s 11 ABCAUS Case Law Citation: ABCAUS 2991 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Radiological & Imaging Association vs DDIT The instant appeal filed by the assessee was against the …