| COURT: | ITAT Hyderabad |
| CORAM: | Inturi Rama Rao (AM), Saktijit Dey (JM) |
| SECTION(S): | 11, 2(15) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Charitable purpose |
| COUNSEL: | Laxminiwas Sharma |
| DATE: | June 30, 2015 (Date of pronouncement) |
| DATE: | July 8, 2015 (Date of publication) |
| AY: | 2011-12 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 2(15)/ 11: Important principles of what is a "charitable purpose" and the scope of the proviso to section 2(15) of the Act explained | |
As regards the proviso to Section 2(15) of the Act, it is clearly discernible from the CBDT’s Circular No.11 of 2008, dated 19.12.2008 and speech of the Hon’ble Finance Minister that the intention of Parliament in introducing the proviso to Section 2(15) of the Act is to deny exemption to those organizations or entities, which are purely commercial or business in nature or the commercial business entities, which wear the mask of a charity. The genuine charitable organizations are not affected in any way
Recent Comments