Accumulation of 15% of income u/s 11 couldn’t be regarded as obligation envisaged in law
0
Accumulation of 15% of income u/s 11 couldn’t be regarded as obligation envisaged in law This was the observation in…
15% accumulation for trust not the right
Recent Posts
- Reason to believe for Reassessment: AO must exercise discretion independently and not under the dictates of other authorities.
- Amount received by illegal occupant is tax free?
- No Addition u/s 153A without incriminating material found during search – Statements of third parties not sufficient: ITAT Delhi
- Tax Payment Postponed, ₹30 Lakh Earned — All Thanks to a Smartly Timed Sale
- Reason to believe for Reassessment: AO must exercise discretion independently and not under the dictates of other authorities.
- Re-assessment is valid if the AO independently verifies information and forms a reasoned belief of income escaping assessment.
- Assessment order passed on a non-existent entity due to amalgamation is invalid considering the applicability of Section 170(2) of the Income Tax Act
- Non filing of MSME-1 by Companies may attract penalty up to Rs. 3 Lakh
- Courts, Sub-Registrars must report if they come across cash transactions over Rs. 2 Lakhs to Income Tax Department: Supreme Court
- No notice u/s 143(2) issued by the AO – ITAT Quashed Assessment as Jurisdiction
