Friday, September 13, 2019

No sec. 10(23C)(vi) exemption if funds collected from students were taken away outside books of account

INCOME TAX : Where Assessing Officer finding that funds collected from students admitted to institutions run by assessee were taken away outside books of account without even issuing receipts, rejected assessee's claim for exemption under section 10(23C)(vi), said finding being a finding of fact, did not require any interference

from www.taxmann.com Latest Case Laws https://ift.tt/30cveHs

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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...