Friday, April 2, 2021

Matter remanded back to determine whether sum advanced to trust having similar object is application of income

INCOME TAX : Where assessee-trust was administering two educational institutions and it gave certain sum to another charitable institution for educational purposes to enable them to construct a building as part of their college and claimed exemption under section 10(23C)(vi) on ground that sum given should be considered as an application for carrying out objects of assessee

from www.taxmann.com Latest Case Laws https://ift.tt/39B3bZs

No comments:

Post a Comment

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...