Friday, July 17, 2020

‘NPCI’ not hit by proviso to sec. 2(15) on administering payment settlement system for general public

INCOME TAX: Where clearing functions of RBI were divested to assessee and its primary objective was to administer payment settlement system for larger benefit of general public and not to run clearing system in a commercial manner or on a commercial basis, assessee's activities were charitable

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000195052/‘npci’-not-hit-by-proviso-to-sec-215-on-administering-payment-settlement-system-for-general-public.aspx

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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...