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Section 13(1)(c)6 Section 114 Section 402 Section 13(3)2

LOKMANYA TILAD JANAKALYA SHIKSHAN SANSTHA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE -2, NAGPUR

In the result, this appeal by the assessee stands partly allowed

ITA 384/NAG/2012[2008-09]Status: DisposedITAT Nagpur09 Jan 2017AY 2008-09

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

For Appellant: Shri K.P. DewaniFor Respondent: Shri A.R. Ninawe

Section 1Section 11Section 13(1)(c)Section 13(3)Section 40

gains of business or profession. However as it has already been held by me in ground no. 2 to 4 that assessee is not eligible for exemption u/s 11 this argument of the appellant is not tenable. The requirement to deduct tax at source does not exclude entities which are exempted u/s :11. The intent of the legislature was that