Friday, September 18, 2020

CIT(E) couldn’t denied sec. 80G application due to non-filing of P&L a/c if accounts of trust was under preparation

INCOME TAX : Where Commissioner (Exemption) denied benefits under section 80G to assessee company, registered under section 12AA, for reason that assessee failed to produce any evidence about having incurred any expenditure in its financial statements towards charitable object of company, since when Commissioner (Exemption) rejected assessee's application under section 80G,

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000195773/cite-couldn’t-denied-sec-80g-application-due-to-non-filing-of-pl-ac-if-accounts-of-trust-was-under-preparation.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...