FEMA borrowing restrictions bind charitable trusts, and civil penalties apply without proving intent for delayed repayment of non-resident rupee loans...
Exemption u/s 11 - activity of the assessee of letting out gallery frequently for a price - Whether qualify as being called in the nature of charity - Proviso to Section 2(15) was not designed to hit at those institutions, which had the advancement of the objects of general public utility at their hearts and were charity institutions.
Exemption u/s 11 - activity of the assessee of letting out gallery frequently for a price - Whether qualify as being called in the nature of charity - Proviso to Section 2(15) was not designed to hit at those institutions, which had the advancement of the objects of general public utility at their hearts and were charity institutions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
