Saturday, September 29, 2018

Trust promoting education not required to serve or educate poor person only: ITAT

IT: Profit-making per se cannot be regarded as detrimental as long as a society pursue a charitable purpose; activities of a trust/institution promoting education need not target to serve poor, but it should function in conformity with its objects

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

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

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...