Monday, December 10, 2018

No denial of sec. 10(23C) relief just because society promoting education had devised fee structure to earn money

IT : Where assessee's claim for exemption under section 10(23C)(vi) was rejected on ground that it had disproportionate fee structure which was devised to earn maximum money, in view of fact that dominant object of assessee was to impart education and not to earn profit, impugned order passed by authorities below was to be set aside

from www.taxmann.com Latest Case Laws https://ift.tt/2C1K6zq

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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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