Subscribe to the Bombay Chartered Accountant Journal Subscribe Now!

August 2024

Disallowance under section 13 relating to benefit to interested persons cannot apply to charities notified under section 10(23C)(iv).

By Jagdish T Punjabi, Chartered Accountant
Devendra Jain & Aditya Bhatt, Advocates
Reading Time 2 mins

33 ITO vs. Theosophical Society

(2024) 163 taxmann.com 770 (ChennaiTrib)

ITA No.: 624 (Chny) of 2024

A.Y.: 2014–15

Date of order: 10th June, 2024

Sections: 10(23C), 13

Disallowance under section 13 relating to benefit to interested persons cannot apply to charities notified under section 10(23C)(iv).

FACTS

The assessee was a society notified under section 10(23C)(iv) and also registered under section 12A(1)(a) of the IT Act. The assessee filed its return of income on 26th September, 2014, admitting NIL income after claiming exemption under section 11.

The AO denied exemption under section 11 on the ground

Read More
Download PDF

You May Also Like

Deeming provision of section 50C is not applicable to leasehold rights in property.

Learning Events at BCAS: