[aaykarbhavan] Business receipts of a trust above prescribed limit would deny it sec. 11 relief; its registration would remain valid

Business receipts of a trust above prescribed limit would deny it sec. 11 relief; its registration would remain valid

June 11, 2014[2014] 45 taxmann.com 303 (Mumbai - Trib.)

IT: Where in case of assessee, a charitable trust, gross receipts having exceeded stipulated monetary limit provided in second proviso to section 2(15), assessee was not entitled to claim exemption of income in relevant year but said fact alone could not make trust non-genuine for purpose of invoking section 12AA(3)

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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