Business undertaking held as property: tax authorities may determine undertaking income when a nonprofit claims statutory tax benefits. Where property held by a registered non-profit organisation includes a business undertaking and a claim is made that the undertaking's income is eligible for benefits under this Part, the Assessing Officer is empowered to determine the income of that business undertaking in accordance with the provisions of the Income-tax Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Business undertaking held as property: tax authorities may determine undertaking income when a nonprofit claims statutory tax benefits.
Where property held by a registered non-profit organisation includes a business undertaking and a claim is made that the undertaking's income is eligible for benefits under this Part, the Assessing Officer is empowered to determine the income of that business undertaking in accordance with the provisions of the Income-tax Act.
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