Friday, September 21, 2018

No denial of sec. 10(23C) exemption just because non-profit institute was also running profitable hotel

IT : Where assessee society running a non profit educational institution claimed exemption under section 10(23C)(iiiab), merely because assessee was simultaneously running profitable hotel, exemption under section 10(23)(iiiab) could not be denied

from www.taxmann.com Latest Case Laws https://ift.tt/2DiCzPu

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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