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Receipts having no nexus with educational activities, not to be considered in Annual credit receipts u/s 10(23C)(iiiad)
Case Law Details
- Case Name
- ACIT Vs M/s Public Rose Shiksha Samiti (ITAT Jaipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Jaipur
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Brief of the Case
ITAT Jaipur held In the case of ACIT vs. M/s Public Rose Shiksha Samiti that on verification of the total receipt mentioned by the Assessing Officer , there was a transaction of sale of land for Rs. 47,90,000/-. The Hon’ble Madras High Court has considered the issue of annual receipts as envisaged in Section 10(23C)(iiiad) in the case CIT Vs. Madrasa EBakhiyath- Us-Salihath Arabic College (2015) 120 DTR 238/226 Taxman 372 (Mad.) (HC) wherein the sale proceed of land and Bond held not to be equated to annual receipts as stated U/s 10(23C)(iiiad). If the sale...
