Trust Denied Tax Exemption u/s 11; No Penalty Imposed u/s 271(1)(c) for Non-Charitable Newspaper Income.

Trust Denied Tax Exemption u/s 11; No Penalty Imposed u/s 271(1)(c) for Non-Charitable Newspaper Income. https://www.taxtmi.com/highlights?id=32969 Penalty u/s 271(1)(c) - trust denied exemption u/s 11 on the ground that income from running of newspaper had not been applied for charitable purposes - it cannot be said that the assessee had concealed the particulars of its income or had furnished inaccurate particulars of such income - no penalty - AT en-us Mon, 23 Jan 2017 08:55:50 +0530 Mon, 23 Jan 2017 08:55:50 +0530 TaxTMI RSS Generator Trust Denied Tax Exemption u/s 11; No Penalty Imposed u/s 271(1)(c) for Non-Charitable Newspaper Income. https://www.taxtmi.com/highlights?id=32969 Penalty u/s 271(1)(c) - trust denied exemption u/s 11 on the ground that income from running of newspaper had not been applied for charitable purposes - it cannot be said that the assessee had concealed the particulars of its income or had furnished inaccurate particulars of such income - no penalty - AT Highlights Income Tax Mon, 23 Jan 2017 08:55:50 +0530 https://www.taxtmi.com/highlights?id=32969