Thursday, May 13, 2021

Sec. 11 exemption cannot be denied just because assessee failed to file audit report along with ITR: ITAT

INCOME-TAX : Where AO denied exemption under section 11 to assessee-educational institution on ground that assessee failed to prove that it was solely existing for education not for profit and secondly on ground that assessee did not have approval under section 10(23)(C) and form 10BB was not filed along with return of income,

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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...