SICA repeal and abatement of rehabilitation proceedings barred further control over company assets; illegal share allotments and sales were struck dow...
Exemption u/s 11 - AO by invoking proviso to Section 2(15) and denying the exemption - Receipts from business activities exceeded the threshold of Rs. 10 lakhs and Rs. 20 lakhs - The ITAT directed the AO to assess whether the assessee's main activity, for which it was granted Section 12A registration, itself constituted trade, commerce, or business, or if the activities were intrinsically linked to the advancement of its charitable object.
Exemption u/s 11 - AO by invoking proviso to Section 2(15) and denying the exemption - Receipts from business activities exceeded the threshold of Rs. 10 lakhs and Rs. 20 lakhs - The ITAT directed the AO to assess whether the assessee's main activity, for which it was granted Section 12A registration, itself constituted trade, commerce, or business, or if the activities were intrinsically linked to the advancement of its charitable object.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
