Tuesday, February 5, 2019

No denial of exemption just because society earned profit while carrying out charitable activities

IT: Where assessee-society was engaged in activities of publication of newspaper and complementary publication to provide information regarding Government welfare schemes to general public and its activities had not changed at all since its inception and it was fully eligible for exemption under sections 11 and 12 and, further, income generated by assessee was utilized fully for purposes of objects of assessee, Assessing Officer was not justified in holding that assessee was involved in carrying

from www.taxmann.com Latest Case Laws http://bit.ly/2WGVbhw

No comments:

Post a Comment

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...