Tuesday, July 30, 2019

Imparting education as a learning centre of a university to be treated as charitable activity: ITAT

INCOME TAX : Where assessee-society was engaged in imparting education as a learning centre of a University i.e. PTU, since object of assessee was charitable in nature within meaning of section 2(15), a part of semester fee paid by PTU to assessee could not be regarded as commission and, assessee's claim for exemption under section 10(23C)(iiiad) in respect of amount so received, was to be allowed

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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...