Tuesday, December 8, 2020

Activities of trust could not be held non-charitable on mere fact that trust has earned certain revenue

INCOME TAX : Where assessee-company, registered under section 25 of Companies Act, was engaged in imparting 'financial education/awareness' to investor in field of investments, merely because assessee earned certain revenue, it could not be said that activities of assessee were not charitable so as to cancel its registration under section 12AA

from www.taxmann.com Latest Case Laws https://ift.tt/3lQvJl3

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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...