Upgrade to AI Search ✕

We've upgraded AI Search on TaxTMI with two powerful modes:

1. Basic
• Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI

2. Advanced
• Includes everything in Basic
• Detailed report covering:
     - Overview Summary
     - Governing Provisions [Acts, Notifications, Circulars]
     - Relevant Case Laws
     - Tariff / Classification / HSN
     - Expert views from TaxTMI
     - Practical Guidance with immediate steps and dispute strategy

• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:

Call Us / Help / Feedback✕

TMI Blog

Home /

Previous Next

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

X X X X Extracts X X X X

Full Text of the Document

X X X X Extracts X X X X

....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....

Previous Next

Contact Us At :

FAQs :

Most Asked Video Tutorials :

Submit Feedback/Suggestion :

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