Exemption u/ss 11 and 2(15) of Income Tax Act Sent Back to Assessing Officer for Re-evaluation.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Exemption u/s. 11 - Charitable activity u/s 2(15) - mutuality concept applicability - We are inclined to remit this issue back to the file of AO to verify the books of accounts and analyze with its objects and re-do the assessment as per law. It is not necessary that the assessment should be completed based on the return of income filed by the assessee or what stand taken by the assessee and we direct the AO to complete the assessment as per law. - AT....