Transfer pricing comparability: one support-services company accepted, government-owned and facility-management comparables excluded, forex loss claim...
Eligibility for exemption u/s 10(23C)(iiiad) - claim not made in return of income - failure to furnish audit report in Form 10B - The Tribunal found that the institution, a society providing education, had spent more than 85% of its receipts towards charitable purposes. Despite a belated submission of the audit report, the institution was eligible for exemption under section 10(23C)(iiiad) of the Act. Consequently, the appeal was allowed, granting the institution the exemption it sought.
Eligibility for exemption u/s 10(23C)(iiiad) - claim not made in return of income - failure to furnish audit report in Form 10B - The Tribunal found that the institution, a society providing education, had spent more than 85% of its receipts towards charitable purposes. Despite a belated submission of the audit report, the institution was eligible for exemption under section 10(23C)(iiiad) of the Act. Consequently, the appeal was allowed, granting the institution the exemption it sought.
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