Search Results for "charitable trust exemption"

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Supreme Court Partially Allows Revenue's Appeal in Income Tax Exemption Case and Remands for Fresh Consideration. Assessing Officer Directed to Re-examine Charitable Trust Status of Society Running Newspaper with Advertisement Revenue Under Sections 2(15) and 11 of Income Tax Act, 1961.

The Supreme Court partially allowed an appeal by the Commissioner of Income Tax (revenue) concerning the charitable trust status and tax exemption eli...

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Bombay High Court Dismisses Writ Petition Challenging Rejection of Approval Under Section 10(23C)(via) of Income Tax Act, 1961 for Charitable Hospital Trust. Creation of Capital Assets from Surplus Funds Indicates Non-Philanthropic Purpose, Court Holds.

The petitioner, M/s Yash Society, a public trust registered under the Bombay Public Trust Act, 1950 and the Societies' Registration Act, 1860, runs a ...

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Supreme Court Upholds Revenue in Income Tax Act Case Involving Cancellation of Trust Registration. Cancellation Under Section 12AA(3) Justified Due to Admission of Bogus Donations and Non-Genuine Activities by the Trust, Violating Its Objects and Misusing Tax Provisions.

The dispute involved the Commissioner of Income Tax (Exemptions) appealing against a High Court judgment that set aside the cancellation of registrati...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Marhatta Chamber of Commerce Held Eligible for Section 11 Exemption Despite Business Income. Trust's incidental business activity does not forfeit exemption under sections 11 and 12 of the Income Tax Act, 1961.

The case involves an appeal by the Commissioner of Income Tax (Exemptions) against the order of the Income Tax Appellate Tribunal (ITAT), Pune Bench, ...

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Bombay High Court Allows Exemption Under Section 10(22) for Interest Income on Surplus Funds of Educational Trust. Interest earned on surplus funds of a school run by a trust is exempt under Section 10(22) of the Income-tax Act, 1961, as it is incidental to educational activities.

The case involves a reference under Section 256(1) of the Income-tax Act, 1961, by the Income Tax Appellate Tribunal at the instance of the assessee, ...