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3 results for “charitable trust”+ Deemed Dividendclear

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Key Topics

Section 252Section 12A2Section 11(1)2Section 292Charitable Trust2Exemption2

Principal Commissioner of Income Tax-2 vs. M/s Indur Green Power Private Limited

In the result, all the appeals fail and are hereby

ITTA/627/2015HC Telangana02 Jun 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Section 12ASection 143(1)Section 2(15)Section 25Section 260Section 80G(5)

deemed to be income derived from property held under trust wholly for charitable or religious purposes and the provisions of that section and section 13 shall apply accordingly. Technically, none of the provisions contained in amended section 2(15), 11, 12 and 13 are complied in this case hence the claim of exemption of the assessee company is not entertainable

The Commissioner of Income Tax - IV vs. M/s. Mekins Agro Product (P) Ltd.

ITTA/449/2013HC Telangana25 Sept 2013
Section 11(1)Section 29Section 32

dividends, voluntary payment received by trust, etc. It may be noted that profits and gains are generally used in terms of business or profession as provided u/s. 28. The word " income ", therefore, is a much wider term than the expression profits and gains of business or profession ". Net receipt after deducting all the necessary expenditure of the trust (sic). There

M/s. Canara Securities Ltd vs. Dy. Commissioner of Income Tax

ITTA/3/2020HC Telangana25 Aug 2020

Bench: M.S.RAMACHANDRA RAO,T.AMARNATH GOUD

Charitable societies and trusts are not part of the estate of the testatrix which are managed by the respective managing committees and trustees of the societies or trusts. The companies are separate legal entities controlled by their Board of Directors and the affairs of the estate of the testatrix do not include the right to control the affairs