Central Government notifies ‘All India Council for Technical Education’, New Delhi, a Council established by the Central Government, in respect of the specified income arising to that council - 42/2019 - Income Tax Act, 1961
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Notification of specified income exemption: AICTE's listed receipts are recognised subject to noncommercial and filing conditions. Notification designates All India Council for Technical Education as recipient of specified income for tax purposes, listing covered receipts: government grants and subsidies; regulatory charges; RTI and examination fees; specific entrance examination fees; receipts from sale of forms, materials and tender fee; disposal of scrap; and interest on those receipts. Application is subject to conditions that the council shall not engage in commercial activity, that activities and the nature of specified income remain unchanged across the relevant financial years, and that the council files its income-tax return as required by the statutory return-filing provision.
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.
Notification of specified income exemption: AICTE's listed receipts are recognised subject to noncommercial and filing conditions.
Notification designates All India Council for Technical Education as recipient of specified income for tax purposes, listing covered receipts: government grants and subsidies; regulatory charges; RTI and examination fees; specific entrance examination fees; receipts from sale of forms, materials and tender fee; disposal of scrap; and interest on those receipts. Application is subject to conditions that the council shall not engage in commercial activity, that activities and the nature of specified income remain unchanged across the relevant financial years, and that the council files its income-tax return as required by the statutory return-filing provision.
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