Income received from a charitable/religious trust will be tax-exempt under Section 11, provided that the activity being performed is incidental to the attainment of objectives set by the trust/institution, and separate books of account are maintained by the particular trust/institution pertaining to the business. In this article, we look at some of the major exemptions provided under Section 11 of the Income Tax Act.
Income Tax : Courts held that prior exemption claims under Sections 11 and 12 cannot justify denial of 80G approval. The key takeaway is that b...
Income Tax : The Tribunal ruled that non-filing of Form 10B is a curable defect and cannot justify denial of exemption during processing. Secti...
Income Tax : The law now mandates a single exemption pathway for charitable institutions, ending the flexibility of parallel regimes. The key t...
Income Tax : ITAT Kolkata held exemption u/s 11 or 10(23C) cannot be denied at 143(1) stage for delayed Form 10B/10BB filing when reports were ...
Income Tax : Understand the taxability, registration, and exemption provisions for charitable and religious trusts under Sections 11–13, incl...
Income Tax : Dive into Lok Sabha Unstarred Question No. 2302 to understand the tax exemption status of BCCI, potential changes, and insights in...
CA, CS, CMA : ICAI clarified that application of funds can only be made on actual payment basis in case of charitable trusts. This amendment is ...
Income Tax : These instructions are guidelines to help the taxpayers for filling the particulars in CSV template in Part-B Details of donors an...
Income Tax : CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala S...
CA, CS, CMA, Income Tax : We have not noticed any heed being extended towards various issues and possible solutions we have proposed through those represent...
Income Tax : The Tribunal condoned a 60-day delay after accepting explanations relating to migration of the ITAT portal and the death of a fami...
Income Tax : The Tribunal ruled that corpus donations cannot be taxed merely because Section 12AA registration was granted subsequently. Once r...
Income Tax : The Mumbai ITAT held that the appellate authority failed to consider pending writ petitions and interim directions of the Bombay H...
Income Tax : The ITAT Chennai held that exemption under Section 11 cannot be denied merely because Form 10B was not filed along with the return...
Income Tax : Bombay High Court held that delay in filing Form No. 10 for claiming accumulation under Section 11(2) should be condoned where gen...
Income Tax : CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024....
Income Tax : NOTIFICATION NO. 03/2016 Exercise of option etc under section 11. (1) The option to be exercised in accordance with the provisions...
Income Tax : Part III of the Standard Operating Procedure (SOP) (Part I - 08.07.2015) for making application for claim of tax exemption u/s 11(...
Income Tax : Many NGOs and Charitable Organizations in India have expressed desire to support relief and rehabilitation work for the benefit of...
Corporate Law : Section 11 of the Special Economic Zones Act, 2005 – Development Commissioner – Rescission of all previous notifications appoi...
Delhi High Court held that Section 138(2) of the IT Act would prevail over Section 22 of the RTI Act. Thus, Central Information Commission (CIC) order directing to provide copies of the file notings granting the approval relating to PM CARES Fund under Right to Information (RTI) liable to be set aside.
ITAT Mumbai held that revision under section 263 of the Income Tax Act unjustified as AO while allowing the exemption in the order passed under section 144 r.w.s.263 has taken a possible view upon verifying the details available on record.
ITAT Chennai held that the assessment order passed by the AO is neither erroneous nor prejudicial to the interest of the Revenue, because, the issue of exemption u/s.11 of the Act, has been considered by the AO while completing assessment u/s.143(3) of the Act. Thus, order passed by the CIT(Exemptions) u/s.263 of the Act unsustainable.
ITAT Mumbai held that documents seized from employees cannot be considered as having any evidentiary value and cannot be considered to have trustworthiness, since no other corroborative material was brought on record to support the veracity of the same. Hence, documents seized from employees cannot be relied upon for denying exemption u/s 11.
ITAT Kolkata held that the Indian Chamber of Commerce (ICC) is entitled to exemption u/s 11 of the Act as ICC is not carrying on any activity of holding meetings, seminars and conferences for business purpose but only in support its main object hence it is not hit by the proviso to Section 2(15) of the Act even post amendments.
Read the detailed analysis of Bar Council of India vs CIT case by Delhi High Court. Learn how the court directed the acceptance of Form 10 after condoning the delay.
Supreme Court observed that there is difference between “law and order” and “public order” and held that breach of law in all cases does not lead to public disorder.
Explore the CESTAT Bangalore case of J K Tyre vs Commissioner regarding the validity of excise duty refund appropriation. Detailed analysis of the order and its implications.
Electricity distribution companies were not entitled to collect gst from their customers and charges for metering equipment, testing fee for meter, labour charges from customers for shifting of meters, charges for bills and application for releasing connection of electricity were all integral part of services of distribution of electricity.
The order passed by CESTAT was without jurisdiction, the Revenue, thus, was right in observing that the refund order sanctioned in favour of the Firm pursuant to the order of CESTAT, was required to be reviewed.
