Assessee's Gross Receipts Breach Limit u/s 2(15), Exemption Denied but Trust Remains Genuine Per Section 12AA(3.

Assessee's Gross Receipts Breach Limit u/s 2(15), Exemption Denied but Trust Remains Genuine Per Section 12AA(3. https://www.taxtmi.com/highlights?id=17662 Gross receipts having exceeded the stipulated monitory limit provided in the second proviso to section 2(15), the assessee is not entitled to claim exemption in this year but that fact alone cannot make the Trust non-genuine for the purpose of invoking section 12AA(3) - AT en-us Tue, 11 Mar 2014 08:03:42 +0530 Tue, 11 Mar 2014 08:03:42 +0530 TaxTMI RSS Generator Assessee's Gross Receipts Breach Limit u/s 2(15), Exemption Denied but Trust Remains Genuine Per Section 12AA(3. https://www.taxtmi.com/highlights?id=17662 Gross receipts having exceeded the stipulated monitory limit provided in the second proviso to section 2(15), the assessee is not entitled to claim exemption in this year but that fact alone cannot make the Trust non-genuine for the purpose of invoking section 12AA(3) - AT Highlights Income Tax Tue, 11 Mar 2014 08:03:42 +0530 https://www.taxtmi.com/highlights?id=17662