"20 April 2017" Archive - Page 7

In absence of trust deed CIT cannot consider Trust Registration Application

Shri Swaminarayan Mandir Vs Director of Income-tax (Exemption) (ITAT Ahemdabad)

In the present case, the assessee was not having any trust deed. So it is quite difficult for the ld. Commissioner to arrive at a firm conclusion about the objects of the trust. In case the trust deed is being written after application for grant of registration, then that deed can never be seen through by the ld. Commissioner for satisfyi...

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Sale of a Running Business with all Assets & Liabilities is Slump Sale: SC

The Commissioner of Income Tax, Vs Equinox Solution Pvt. Ltd. (Supreme Court of India)

Provisions of Section 50 (2) of the Act would apply to a case where the assessee transfers one or more block of assets, which he was using in running of his business. Such is not the case here because in this case, the assessee sold the entire business as a running concern....

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